positivity, growth and development: understanding …my/... · positivity, growth and development:...

POSITIVITY, GROWTH AND DEVELOPMENT: UNDERSTANDING ASIA’S TALENT AND STRATEGISING FOR THE FUTURE

The 2019 Hays Asia Salary Guide

Introduction 3

Market Overview & Trends 4

Salary Policy 6

Recruitment Trends 10

Economic Outlook 17

Further Employer Insights 18

Employee Trends 19

Further Employee Insights 23

Salary Information 24

Accountancy & Finance/Audit, Risk & Compliance 25

Banking & Financial Services 39

Construction & Engineering 49

Digital Technology 52

Education 58

Finance Technology 59

Human Resources 70

Information Technology 74

Insurance 82

Legal 87

Life Sciences 90

Manufacturing & Operations 95

Marketing & Digital 104

Office Professionals 108

Procurement & Supply Chain 111

Property 115

Sales 118

CONTENTS

Recommendations for employers

Recommendations for employees

121

122

INTRODUCTION

If 2018 was a period of new dawns and regrowth, then 2019 is very much a year for consolidation, enhancement and building long-lasting success for the future.

There is great reason for positivity in 2019, with business activity once again up year-on-year and predictions for yet more growth in the year ahead. Likewise, hiring outstripped predictions and continued on a three-year upward trajectory, and there is also a trend towards improved career progression.

Although salaries may not have risen as much as expected, employees are content with their current level of remuneration overall. In addition, they are expectant that salaries will increase again in the coming year by between three and six per cent, with employers in agreement.

Work-life balance retained its importance for the majority of employees, with it once again being the key reason to stay in current roles. Interestingly, candidates also noted that their work-life balance

has not in fact seen improvement over the year, which may be related to the fact that almost a third of companies fail to promote their flexible options.

While there is much to be encouraged by, there is a potential concern surrounding employee skill levels, with many believing that their skillsets will still be in demand five years from now, spending just one to two hours per week on upskilling. However, with companies claiming that skills shortages are hampering operations and citing a change of skillset as the primary reason for restructuring, employee mindsets may have to evolve.

As the 2019 Hays Asia Salary Guide shows, our region is primed for a year in the ascendency and I look forward to discussing the full range of issues with many of you soon.

In the meantime, I hope that the guide will provide you with the insights that will get your business off to a flying start in 2019.

Richard Eardley – Managing Director Asia

Survey highlights

Employers Employees

38%Intend to increase salaries by above

3% but less or equal to 6% in 2019

49%Predict their permanent

staff levels will

increase in 2019

65%Are restructuring their

department/organisation

to keep up with changing

business needs

59%Say the most sought-after

skills are hard skills

64%Say skill shortages had a

negative impact on the

‘productivity’ of their

organisation in 2018

36%See the general outlook for the local

economy as strengthening in 2019

60%Are looking for a new job due

to their salary/benefi t package

67%Believe their current skills

will still be in demand in

fi ve years’ time

57%

Say the ability to work

from home/mobile

working is most

important when

looking for a new job

42%Say work-life balance is the

reason why they won’t

change jobs in 2019

37%Spend 1-2 hours a week

enhancing their

professional skills

25%Expect their salary to increase

from above 3% but less or equal to 6%

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69%OF EMPLOYERS ENVISAGE BUSINESS ACTIVITY TO INCREASE IN THE NEXT 12 MONTHS

Noting so much positivity in our research, we expect that Asia in 2019 will see appreciable growth, particularly if contented employees can see their skills improved upon.

A strong augmentation in business activity is the prime cause for optimism, with 68 per cent of employers noting an increase over the past year, continuing a three-year streak of improvement since 2017. Top improvers were Japan with a 77 per cent increase, while Mainland China was the only region to see less activity than 2018 (60 per cent from 62 per cent). Looking to the year ahead, optimism continues with all regions again foreseeing advancement (69 per cent).

This increased activity is coupled with a generally favourable economic outlook as 36 per cent of employers envisage the economy strengthening, having an encouraging reaction on recruitment.

Staff levels have risen for each of the last three years (41, 43 and 47 per cent), and in 2019 employers expect this trend to continue as 49 per cent predict increases. However, there is less comfort for jobseekers in Singapore and Malaysia, where 18 per cent of employees forecast decreasing headcounts.

With this expected furtherance in hiring, companies are on the lookout for highly-skilled candidates, with hard skills being most sought-after (59 per cent). Key amongst these hard skills is project management at 55 per cent, with only Japan and Malaysia citing other skills as their primary preference (foreign language fl uency and statistical analysis and data mining, respectively). Of soft skills, problem solving (75 per cent) was the clear skill of choice across all regions.

Almost half of employers believe that they currently possess the talent they need (49 per cent) with 33 per cent feeling otherwise, and for the third year in a row, employers in Hong Kong are most reassured and Japan the least.

Yet, our research shows that 93 per cent of employees feel that skills shortages are hampering eff ective operations to some degree. That fi gure climbs to a staggering 98 per cent in Japan, Singapore has seen improvements, with 12 per cent answering in the negative, up from six per cent the year before.

To make matters worse, confi dence in employers’ ability to locate the skills to meet their needs in 2019 is decreasing. Just 55 per cent feel that skills requirements will be met, down from 66 per cent in 2018, and uniformly all regions see declines of ten per cent or more.

The greatest negative impact of this skills shortage is in productivity (64 per cent) with Malaysia, at 71 per cent, the hardest hit. Employers from all regions put skills shortages down to a lack of training and professional development (45 per cent), and for the third year in a row, the remedy for the problem is considered upskilling.

However, as 21 per cent of employees do no additional professional enhancement out of working hours, and a further 37 per cent spend just one or two hours, it is perhaps rather surprising that the majority (67 per cent) feel that their current skillsets will be in demand fi ve years from now. Employees in Mainland China are most pessimistic about their prospects, with 12 per cent feeling that their skills will become redundant.

Salaries are on the mind of employees seeking new employment, with it being the primary consideration of 60 per cent of respondents. However, overall employees are satisfi ed with compensation packages (61 per cent), though only fi ve per cent were very happy.

Employees in Hong Kong were most satisfi ed with their compensation, with a combined 64 per cent being positive, and though 41 per cent of Malaysian employees claim to be dissatisfi ed to some extent, it is a marked improvement on 2018 (62 per cent).

There is a general feeling that salaries will rise over the coming year, as both employees and employers expect incrementation of between three and six per cent (25 and 38 per cent respectively). The primary criterion for employers when off ering raises is individual performance (89 per cent), particularly in Malaysia, where 92 per cent of employers cite it as their number one determinant.

This salary satisfaction and expectation for further augmentation perhaps explains why 64 per cent of all employees felt no need to request a raise over the last 12 months; however, employees should take note that of those who made requests, almost two thirds were granted.

As our research shows, there is plenty to look forward to in the year ahead, though there are areas in which employers and employees can improve. However, with the right building blocks already in place and optimism in a wide number of areas, 2019 is a year in which Asia should be looking forward.

BUILDING ON POSITIVITYLOOKING AHEAD TO ASIA’S BRIGHTER FUTURE

Thank you

We would like to express our gratitude to all organisations which have participated in the collection of data for this year’s guide. Your contribution has ensured that we can produce an informative publication to help support your business decisions.

Disclaimer: The Hays Salary Guide is representative of a value-added service to our clients and candidates. Whilst every care is taken in the collection and compilation of data, the guide is interpretive and indicative, not conclusive. Therefore, information should be used as a guideline only and should not be reproduced in whole or by section without written permission from Hays.

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6 | 2019 Hays Salary Guide - Asia

SALARY POLICYSALARY INCREASES

During the last 12 months have your employees’ salaries changed?

15%Nil

27%Up to 3%

37%From 3% to 6%

14%From 6% to 10%

7%More than 10%

Mainland China

Hong Kong

Japan

Singapore

Malaysia

12

11

20

17

14

12

27

46

34

17

36

45

25

34

46

30

12

3

10

16

10

5

6

5

7

Nil Up to 3% From 3% to 6%

From 6% to 10%

More than 10%

3% to 6%

Mainland China

Up to 3%

Japan

Up to 3%

3% to 6%

Singapore

3% to 6%

Hong Kong

3% to 6%

Malaysia

Average increase by country/region

2019 Hays Salary Guide - Asia | 7

SALARY POLICYSALARY INCREASES

3% to 6%

Mainland China

Up to 3%

Japan

Up to 3%

Singapore

Over the next 12 months, how are your employees’ salaries likely to change?

13%Nil

32%Up to 3%

38%From 3% to 6%

12%From 6% to 10%

5%More than 10%

Mainland China

Hong Kong

Japan

Singapore

Malaysia

8

9

18

19

13

13

35

52

40

22

44

44

24

30

48

27

9

3

8

12

8

3

3

3

5


From 6% to 10%

More than 10%

3% to 6%

Hong Kong

3% to 6%

Malaysia

Average increase expected by country/region


89%

Individual performance

63%

Organisational performance

56%

Responsibilities of the role

47%

Benchmarking against

sector/industry

46%

Team/department/office performance

28%

Organisation's set pay structure

36%

Experience/expertise

17%

Seniority of the role

13%

Benchmarking against other

sectors/industries

11%

Length of service

6%

Other

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SALARY POLICYBENEFITS

Do you give benefi ts in addition to salary and bonus?

If yes, which of the following are provided?*

What factors do you think are the most important when considering an employee’s request for a pay rise, or giving

salary increases to current employees?*

80%Yes

20%No

*More than one answer provided

73%

Health/medical benefits

31%

Life assurance

6%

Tax equalisation

6%

Hardship allowance

5%

Private expenses

25%

Health and wellness program

25%

Pension

23%

Car/car allowance

19%

Housing allowance

19%

Financial supportfor study

18%

Day off for your birthday

14%

Club/gym membership

13%

Other

6%

Children’seducation



SALARY POLICYBONUSES

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

11%Nil

16%Up to 10%

14%From 10%

to 20%

11%From 20%

to 50%

48%More than 50%


What percentage of staff will be awarded bonuses this year?

Are bonuses related to*:

85%

Individual performance

84%

Company performance

43%

Team performance

10%

Guaranteed

3%

Hours billed

2%

Other

The Hays Global Skills Index off ers insight into the challenges

faced by organisations as they search for the

most sought-after talent.

Scan the barcode to watch a short video

introducing the “Index”.

hays-index.com


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RECRUITMENT TRENDSSTAFFING

Over the last 12 months, have permanent staff levels in your department...

In the next 12 months, do you expect permanent staff levels in your department to...

Decreased

Remainedthe same

Increased

18%

35%

47%

Decrease

Remainthe same

Increase

15%

36%

49%

How often do you employ temporary/contract staff ?

In the next 12 months, do you expect your use of temporary/contract staff to...

Decrease

Remainthe same

Increase

13%

62%

25%

33%

Regular, ongoing basis

29%

Special projects/workloads

26%

Exceptionalcircumstances

12%

Never


RECRUITMENT TRENDSSTAFFING

Which of the following fl exible working options does your organisation currently off er to your knowledge?

What percentage of your organisation’s workforce do you believe is aware of the fl exible working options available to them?


39%

Home or remote working

38%

Flexi-timeworking hours

30%

None

28%

Informal flexible working

18%

Part-timeemployment

4%

Job sharing

5%

Compressed hours

3%

Term-time working hours

1%

Phased retirement

1%

Other

Fewer than 10% 11-30% 31-50% 51-75% Over 76%

We do not promote our fl exible working options to all staff

Mainland China 26% 11% 8% 4% 20% 31%

Hong Kong 17% 11% 8% 10% 21% 33%

Japan 12% 6% 9% 6% 51% 16%

Malaysia 13% 7% 7% 7% 22% 44%

Singapore 17% 5% 7% 14% 29% 28%

Is it your policy to counter-off er staff when they resign?

10%Yes

61%Sometimes

29%No

Of those counter off ered, how long did they stay?

4%

Stayed less than 3 months

15%

Stayed 3 to 12 months

22%

Stayed longer than 12 months

20%

They didn’t stay

39%

Not sure


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RECRUITMENT TRENDSDIVERSITY & MERITOCRACY

What percentage of women do you have in management positions?

What percentage of foreign employees do you have in your organisation?*

30%

Across the region

15%

Across the region

35%

Mainland China

19%

Japan

29%

Singapore

33%

Hong Kong

35%

Malaysia

6%

Mainland China

10%

Japan

28%

Singapore

18%

Hong Kong

13%

Malaysia

*Foreign means non-permanent citizenship or resident of the country/region


RECRUITMENT TRENDSSKILLS SHORTAGES

What skills are most sought-after by your organisation?

When recruiting new staff in 2019, which of these soft skills are important to you?*

When recruiting new staff in 2019, which of these hard skills are important to you?*

75%

Problem solving

70%

Team working

23%

Negotiation skills

33%

Written communication

63%

Verbal communication

50%

Critical thinking

50%

Interpersonal skills

42%

Analytical/quantitative skills

44%

Leadership

41%

Flexibility

40%

Attention to detail

36%

Resilience

35%

Time management

55%

Project management

49%

Statistical analysis and data mining

8%

UX or UI design

9%

Coding ability

7%

Web architecture and development

framework

34%

Foreign language fluency

33%

Computer skills

28%

A degree (or other academic

qualification)

14%

Accounting or bookkeeping

26%

An industry specific

certification

13%

Programming languages

13%

Social media management

12%

Cloud and distributed computing

12%

Network and information

security


Soft skills

Psychological/emotional competenciesHard skills

Teachable/technical

41% 59%



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For which areas have you recently found it diffi cult to recruit?

Entry to middle management

Middlemanagement

Senior management

Entry to middlemanagement

Middlemanagement

Seniormanagement

Accountancy & Finance 14% 20% 11% Operations 11% 13% 8%

Banking & Financial Services 7% 7% 5% Production 8% 9% 4%

Distribution 5% 5% 3% Property/Facilities Management 3% 5% 3%

Engineering 12% 14% 7% Procurement 5% 9% 5%

Human Resources 7% 13% 8% Research & Development 8% 12% 7%

IT 17% 19% 9% Sales 21% 23% 14%

Legal 3% 8% 5% Supply Chain 7% 9% 6%

Marketing & Digital 10% 17% 10%

Do you think your organisation has the talent needed to achieve current business objectives?

49%Yes

46%Yes without a doubt

33%No

47%Yes there will be some impact

18%Not sure

7%No

Will skills shortages hamper the eff ective operation of your business/department in 2019?

In what areas, if any, have skill shortages had a negative impact on your organisation?*

64%

Productivity

43%

Ability to deliver projects

43%

Business development

43%

Growth/expansion

42%

Employee morale

37%

Innovation/creativity

34%

Customer/client service

1%

Other

34%

Revenue/profit

15%

Increased overtime pay

12%

Absenteeism due to stress

3%

No impact




What do you think are the main causes of skills shortages in your sector/industry?*

What action have you taken to address immediate skill shortages within your organisation?*

62%

Up-skilled current workforce

47%

Improved attraction strategy

37%

Transferred employees between

different functions

24%

Recruited workers from overseas

22%

Recruited contract/temporary workers

8%

No action taken

2%

Other

45%

Training and professional

development

39%

Competition for roles/job

opportunities

28%

Lack of progression opportunities

27%

Fewer people entering the job market in your industry

23%

Perception/stereotyping

22%

Time required to complete necessary

qualifications/training

15%

Cost of qualifications

12%

Lack of awareness of opportunities

in schools/universities

6%

Other




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Are you currently restructuring your department/organisation to keep up with changing business needs?

65%Yes

35%No

If yes, what has/have been the driver(s)? *

50%

Change in required skills set

31%

Requirement for a more

flexible workforce

30%

Digital transformation

19%

Outsourcing

13%

Merger/acquisition

12%

Downsizing

12%

Other

7%

Offshoring

4%

Inshoring



ECONOMIC OUTLOOK BUSINESS ACTIVITY

During the past 12 months, has business activity increased/decreased for your organisation?

Over the next 12 months, how do you expect your organisation’s activity levels to change?

14%Decreased

9%Decreasing

18%Remained the same

22%Remaining the same

Do you see the general outlook for the local economy in 2019 as:

Mainland China

Hong Kong

Japan

Malaysia

Singapore

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30%Weakening

30%Weakening

9%Weakening

21%Weakening

19%Weakening

68%Increased

69%Increasing

31%Static

45%Static

50%Static

40%Static

45%Static

39%Strengthening

25%Strengthening

41%Strengthening

39%Strengthening

36%Strengthening

Over the next 12 months, how confi dent are you that you will be able to recruit candidates with the skills needed to

meet your organisation’s needs?

50%Confi dent

5%Very confi dent

42%Not very confi dent

3%Not at all confi dent


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FURTHER EMPLOYER INSIGHTS

80%of employers give their employees benefits in addition to salary/bonus

64%of employers say bonuses form part of their organisation's remuneration package for all staff

51%of employers said overtime/extra hours in their organisation has remained the same over the last 12 months

52%of employers said their organisation has formal diversity policies and practices in place

40%of employers said they are not sure how well their formal diversity policies and practices are adhered to

64%of employers say the primary criteria for promotion in their organisation is based on performance

61%of employers would consider employing or sponsoring a qualified overseas candidate


EMPLOYEE TRENDSWHAT DO EMPLOYEES THINK?

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How do you expect your salary/rate of pay to change in 2019?

13%Nil

23%Up to 3%

25%From 3% to 6%

17%From 6% to 10%

22%More than 10%

Mainland China

Hong Kong

Japan

Singapore

Malaysia

4

10

27

17

10

5

24

42

29

14

15

34

17

27

31

32

14

6

12

22

44

18

8

15

23


From 6% to 10%

More than 10%

Mainland China

More than 10% Up to 3%

Japan

Up to 3%Singapore

3% to 6%

Hong Kong

3% to 6%

Malaysia

Average increase by country/region



To what extent do you agree that your organisation is transparent about how pay levels and pay rises are set?

12%

Strongly agree

25%

Slightly agree

30%

Neither agree nor disagree

17%

Slightly disagree

16%

Strongly disagree

How would you rate your work-life balance?

Do you currently use any of the

following fl exible working options?*

Which of the following fl exible working options

if you were looking for a new job would be

important to you when considering a new role?*

Part-time working

Flexi-time

Job sharing

Home or mobile working

Compressed hours

Term-time working

Annual hours

Informal fl exible working

Phased retirement

None of the above

Other

7%

54%

7%

57%

28%

8%

8%

29%

4%

12%

1%

4%

25%

3%

31%

3%

2%

2%

17%

0%

45%

2%

13%

Very good

37%

Good

32%

Average

13%

Poor

5%

Very poor

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*More than one answer provided *More than one answer provided



Would you move abroad for a new job opportunity with your current or a new employer?

57%Yes

62%Yes

43%No

38%No

Do you believe your current skills will still be in demand by employers fi ve years from now:

67%Yes

9%No

24%Not sure

Are you happy with your total compensation package provided by your employer

(including salary, bonuses & benefi ts)?

How many hours outside of your job do you spend enhancing your professional skills?

Do you think you are fairly evaluated for your performance by your current organisation?

21%

None

37%

1 to 2 hours per week

27%


10%


3%


2%

More than 24 hoursper week

In the past year, have you asked for a pay rise?

22%Yes, successfully

14%Yes, not successfully

64%No

5%Very satisfi ed

56%Satisfi ed

34%Dissatisfi ed

5%Very dissatisfi ed


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Are you actively looking for a new job?

If yes, why are you looking for

a new employer?*

If you aren’t looking to move, what makes you

want to stay with your current employer?*

31%Yes

24%No

45%No, but I’m open to new opportunities

Salary or benefi t package

Career progression

Training or development opportunities

Job security

Work-life balance

New challenges

Work location

The management style & company culture

Flexible working options

Other

39%

31%

20%

31%

42%

27%

30%

34%

24%

7%

60%

45%

24%

17%

20%

50%

17%

38%

10%

5%

*More than one answer provided *More than one answer provided


54%of respondents are Generation X (born 1961 to 1982)

29%of respondents have been with their currentemployer for above two, but less or equal than five years

45%of respondents indicated they are not looking for a new job, but would be open to new opportunities

57%of respondents would move abroad for a new job opportunity with their current or a new employer

62%of respondents believe they are fairly evaluated on their performance by their organisation

61%of respondents are very satisfied/satisifed with their total compensation package provided by their employer

41%of respondents believe there is scope for career progression within their organisation

FURTHER EMPLOYEE INSIGHTS

SALARIES & SECTOR OVERVIEWSNAVIGATE YOUR WORLD OF WORK

SALA

RY IN

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HOW TO USE THIS GUIDEUsing our salary tables

Typical salary ranges are represented in local currencies in ‘000 excluding Japan which is stated in millions. Refer to the notes section under the salary table to determine if other benefits are included.

HR Director/Head of HR (<8 yrs)

Malaysia 180 - 240 Salary range

• Please note all salaries are representative of the total package value

SALARIES & SECTOR OVERVIEWSNAVIGATE YOUR WORLD OF WORK


ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

SALA

RY IN

FOR

MAT

ION

: AC

CO

UN

TA

NC

Y &

FIN

AN

CE

/AU

DIT

, R

ISK

& C

OM

PL

IAN

CEMAINLAND CHINA

THOUGH CANDIDATES REMAINED

CAUTIOUS IN 2018, THE CONSUMER

GOODS SECTOR IS MAKING BOLD

CHANGES

Due to 2018’s uncertain economic environment, accountancy and finance professionals in Mainland China erred on the side of caution when it came to employment changes. At the same time, the number of newly created vacancies within MNCs declined when compared to previous years, resulting in the majority of accountancy vacancies targeting replacement rather than business expansion.

Of the vacant roles, positions that remain key in the support of business strategy implementation in the Mainland China market — commercial finance, ethics and compliance, digital and e-commerce finance — were in particularly high demand. In the face of increasing market regulation, the job market is likely to continue in much the same vein in 2019.

MORE OPPORTUNITIES IN SECOND AND

THIRD-TIER CITIES

The consumer goods industry — including FMCG, retail, and luxury — is currently undergoing a digital transformation, and in order to help develop online business models the new function of digital/ e-commerce finance has been generated.Industrial finance talent in second andthird-tier cities with high mobility andexperience in joint ventures may expectmore opportunities and higher salarypackages in the coming year, while othermajor industries, such as life sciences,continue their focus on the recruitment ofcompliance talents to adhere to extensiveregulatory practices.

As the cloud and telecommunications (TMT) industry thrives, we expect to see a growing demand for financial reporting professionals in order to meet the requirements and standards of listed companies. In addition, an increasing number of TMT companies are shifting their focus towards Beijing as a strategic market. To facilitate company transitions, multiple opportunities will be available to senior finance professionals. However, as the local talent pool of candidates with the necessary experience is relatively small, companies may need to widen their

search to include international candidates for roles such as CFO or head of financial planning and analysis (FP&A).

For domestic companies, the outlook for finance directors and chief finance officers (CFOs) is expected to be positive in the coming year, and most roles will be newly created in view of IPO plans and overseas business development.

MNC CANDIDATES LOOK MORE TO

LEADERSHIP THAN REMUNERATION

The majority of the candidates seeking opportunities in MNCs place higher value on a company’s business performance and senior leadership team than salary increments. However, for domestic high-tech and TMT markets, salary augmentation and annual reviews are important factors for potential employees.

HONG KONG

COMPLIANCE IS COMING TO THE FORE,

WHILE THE EXPANSION TO HONG KONG

OF VIRTUAL BANKS AND MAINLAND

CHINA FIRMS MAKE FOR MORE

CANDIDATE OPPORTUNITIES

With increasing technological developments in the Hong Kong market, including the emergence of AI, cloud technology and block chain, it is no surprise that demand for candidates with different skillsets is at its peak within the accountancy and finance and risk and compliance fields.

As banks in Hong Kong apply for virtual banking licenses and continue adherence to strict e-banking regulations, candidates within the retail banking operational risk sector are highly sought after. In addition, fintech is an area in which we expect to see exponential growth for the foreseeable future, resulting in the demand for fraud risk candidates with knowledge of the Faster Payment System (FPS).

MID AND UPPER-LEVEL CANDIDATES

REQUIRED FOR VIRTUAL BANKS

The emergence of virtual banks has also led to the search for mid to senior-level finance managers and financial controllers, particularly those who not only have experience with Hong Kong Monetary Authority (HKMA) regulatory reporting, but also in the set-up of new finance systems. Adding to the challenge of

recruiting for these roles, interpersonal and stakeholder management skills have become increasingly essential. The best fit for this position can expect compensation packages that offer salary increments of around 20 per cent.

Global markets compliance advisory specialists have been in greater demand, particularly in FICC and prime brokerage compliance. The private sector is picking up with alacrity in this market in response to heightened business activity, and as a result, control room, corporate finance compliance and research compliance are niche skillsets where candidates enjoy leverage in the talent-short market.

As the number of institutions from Mainland China expand their operations to Hong Kong, candidates for roles within market and post-deal credit risk management in Chinese banks will be in great demand in the foreseeable future. However, hiring activity by international banks may be static in the coming year.

HEADCOUNTS MINIMISED IN THE

COMMERCIAL SECTOR AS THE THREAT

OF TRADE WAR LOOMS

Within the commercial sector, the area encompassing both non-banking and non-financial services companies, the market remained generally steady through 2018. Organisations operating in this domain have been relatively conservative when it comes to salaries and year-end bonuses. As the possibility of a trade war between Mainland China and the US rises, Hong Kong, as one of the largest trading hubs in Asia, could find its markets react with volatility in the coming year.

Under such conditions, companies in Hong Kong are less likely to create additional headcounts to expand their finance teams. However, to attract top talent we still expect companies to offer a reasonable salary increment for critical positions in 2019. Many sizeable companies are restructuring their finance teams in C&I, resulting in the need for candidates with extensive experience, particularly in general ledgers. Companies with such specific needs will have a greater tendency towards competitiveness when it comes to attracting top candidates.


ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

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JAPAN

THE SECTOR IS MAKING STRONG GAINS,

WITH AGGRESSIVE COMPETITION FOR

FP&A ANALYSTS AND JAPANESE OR US

CPA-QUALIFIED CANDIDATES

The Japanese job market for accountancy and finance professionals continues to be buoyant with qualified and experienced candidates frequently receiving attractive offers. There is a strong demand for a range of finance professionals including accountants, finance planning analysts, finance and accounting managers, controllers and finance directors. This is apparent in small, medium, and large organisations across a broad range of areas including consumer, retail, life sciences, healthcare, technology, manufacturing, financial services, and other services sectors.

In addition, there is strong demand for accounting professionals with experience in JGAAP and US GAAP; however, the competition is fiercest for qualified FP&A analysts and managers with strong business partnering experience and commercial acumen. Major companies may require up to six months to find qualified candidates for those roles and are therefore willing to consider high potential finance professionals who possess accounting or auditing experience. Candidates with experience in driving process improvement within finance or have strong leadership qualities are particularly sought after.

Public accounting audit and advisory firms are also hiring aggressively. This is particularly evident as they look to recruit Japanese or US CPA-qualified candidates with as little as twelve months experience in either public accounting firms or commercial companies.

SERVICES SECTORS REQUIRE

BILINGUALISM, AND OVERSEAS

EXPERIENCE AN ADVANTAGE FOR

CHARTERED ACCOUNTANTS

The continued growth of Japanese tourism has been beneficial for companies in retail, hospitality and other services sectors. Partially driven by the depreciation of the Japanese yen, the sharp growth in inbound tourism has resulted in increased consumption, creating a wealth of

opportunities for finance professionals to join companies in those sectors. Furthermore, the legalisation of gaming resorts has led to an influx of gaming companies to the Japan market in preparation for the license application process. We expect to see increased hiring in this industry in 2019.

We are also noting a particularly strong demand for bilingual candidates — speaking Japanese and English — who hold CPA or chartered accountant qualifications, are experienced in public accounting and have spent a number of years in the finance department of a public listed company. Candidates who can combine these qualities with overseas experience for either study or work are of particular interest to multinational companies.

We foresee the competition for top talent continuing, especially where remuneration is concerned. Candidates can expect to receive ten to 20 per cent increases in their total compensation when moving to a new position, with the best packages being offered by companies in the healthcare and life sciences, financial services and consumer industries. However, this competition comes not only in the form of domestic organisations, but a number of multinationals across various sectors also covet top level talent, offering packages that include up to 30 per cent target bonuses. Sign-on bonuses are also becoming increasingly common.

WORK-LIFE BALANCE OVERTAKING

SALARIES IN CANDIDATE PRIORITIES

Other benefits on the table frequently include flexitime, the opportunity to work from home, training courses either in Japan or overseas and a detailed career path within the organisation. Candidates who feel overworked by their current employers are increasingly considering work life balance a driving factor, causing many to forfeit a significant compensation increase in favour of better working hours and paid vacation leave. The minimum number of paid holidays required in Japan is ten days and we are seeing a growing number of candidates specifying holidays as a key criterion in their job search.

MALAYSIA

SHARED SERVICES ARE STILL STRONG

AREAS FOR MALAYSIA

We foresee a promising year for the job market in Malaysia’s accountancy and finance industry as the economy continues to improve.

As Malaysia remains the Southeast Asia location of choice for shared service centres (SSCs), more and more MNCs are investing in the building of large centres that house the majority or all of their finance functions to support their offices both locally and across the APAC region. This means that the demand for finance professionals experienced in accounts payable, accounts receivable and general ledger will only continue to grow in 2019.

BOOMING START-UP SECTOR LEADING TO

IMPLEMENTATION OF FINANCE TEAMS

Kuala Lumpur, with its perfect combination of cost, culture and high-speed internet accessibility, maintains its position as one of the world’s top cities in which to run tech start-ups, and is attracting both home-grown and international organisations. As this sector flourishes, more and more tech companies will require finance teams to help run and operate their businesses.

Due to recent changes in the Malaysian government, a number of tax reforms were put into place, such as the replacement of GST with SST. This resulted in a three-month tax holiday which, coupled with uncertainties surrounding the new tax scheme, led to a decline in tax-related hiring in Malaysia. Following the implementation of SST, the hiring market is expected to pick up once again, with the focus remaining on professionals who have transfer pricing knowledge in addition to a familiarity with SST.

“Sign-on bonuses are becoming increasingly common in Japan.”


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ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCEIn the manufacturing sector a number of well-established family-run businesses that have remodelled their operations to suit the multinational market. This revamp has resulted in the need for candidates who are well versed in ERP system implementation and migration and have the experience to maintain and overhaul internal controls.

INTERNATIONAL CANDIDATES AND

RETURNING MALAYSIANS KEY FOR

CAPITAL MANAGEMENT AND OTHER

SECTORS

Hiring in Malaysia’s banking sector remains strong, where Malaysian returnees will continue to be attractive. This is particularly evident in the areas of capital management, treasury product control, balance sheet management, ICAAP and liquidity management as the domestic market tends to be behind international candidates in these functions.

As inter-bank hiring poses an increasing challenge, banks are now looking to adopt new talent from outside the banking industry, with the ‘Big Four’ accounting firms and even commercial companies being fertile candidate-hunting grounds. Another trend that we have observed is that banks are saving costs inherent in the training of new offers by making counteroffers to retain their valued staff.

SINGAPORE

THOUGH TURNOVER RATES DECREASED

IN 2018 AND AUTOMATION AND BUSINESS

PROCESS OUTSOURCING (BPO) LED TO

DECLINING TALENT DEMAND, 2019 IS

EXPECTED TO SHOW IMPROVEMENT IN

THE SMALL AND MEDIUM-SIZED

FINANCIAL SERVICES MARKET

Accounting automation and the growth of BPO has resulted in a slight downturn in demand for transactional accounting employees in MNCs. As such, companies are less willing to offer competitive salaries to junior accounting staff. However, qualified chartered accountants and finance managers are still highly valued as companies require them to ensure corporate governance and compliance standards are met.

With more transactional accounting moving out of Singapore, the demand for FP&A and business partnership roles has increased. Within finance teams it is

increasingly common to create new roles that require critical thinking and commercial awareness, and financial analysts are often expected to serve as cross-functional business partners to work closely with non-financial managers and help drive business growth. This ties in with a heightened demand for analysts who are experienced in working with sales, marketing, IT and procurement teams, and both active and passive candidates are regularly approached by eager employers.

Many companies are placing strong emphasis on the improvement of process efficiencies. Finance employees with a proven track record of system work and process improvement initiatives tend to enjoy leverage and command higher salaries. With M&A activity particularly pronounced, employees who are able to display their value in company integration procedures are highly coveted.

SENIOR FINANCE ROLES SEE INCREASING

SALARIES, BUT ALSO GREATER DELAYS IN

THE RECRUITMENT PROCESS

Salary offers for senior finance positions have risen, but the recruitment process for these roles can be extensive and may take several months as MNCs take their time guaranteeing that they are securing the best available talent in the market. Elsewhere, when it comes to hiring in audit, risk and compliance, the market remains stagnant; however, there are some areas of growth, with technology and data analytics-driven audit areas still vibrant.

CANDIDATE MOVEMENT EXPECTED

WITHIN THE SMALL AND MEDIUM-SIZE

BANKING AND FINANCIAL SERVICES

MARKET

Within the banking and finance sector in 2018, turnover rate decreased, as most employees were content to stay in their roles due to the unpredictability of the job market. Conversely, non-banking financial services firms enjoyed a year of strong growth as they were able to offer competitive variable and performance-based bonuses. Banks, however, saw a slight stagnation in their employees’ salaries, while many faced headcount freezes.

Nonetheless, there are signs that the coming year will show improvement, with greater movement within the small and medium-size banking & financial services market. In addition, there is an increasing

need for change agents with high-level critical thinking skills as the core finance function within the banking and financial services market continues to evolve.

“Many companies in Singapore are placing a strong emphasis on the improvement of process effi ciencies.”

Alignment of strategic requirements with operational budget and workforce 28%

The digitalisation of the economy 25%

Skills and knowledge gap of my team 27%

Managing risk 26%

Challenging economic environment 31%

Data source: Hays Asia DNA of a CFO report released in July 2018

Top fi ve business challenges CFOs will face over the next 12 months


ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | SENIOR FINANCE

NOTES

• Salaries are represented in local currencies

• Salaries do not include bonuses

• Top of range in MNCs implies regional role

• SME - Small to medium enterprise

• MID - Medium to large

• MNC - Multinational companies

FINANCE DIRECTOR/CFO SME MID MNC

Mainland China 700 - 1,000 1,200 - 2,500 1,000 - 3,000

Hong Kong 1,000 - 1,500 1,200 - 2,000 1,400 - 3,000

Japan 10 - 15 12 - 25 15 - 30

Malaysia 240 - 420 300 - 720 480 - 900

Singapore 190 - 260 260 - 320 320 - 620

FINANCIAL CONTROLLER SME MID MNC

Mainland China 450 - 700 600 - 900 600 - 1,300

Hong Kong 660 - 840 720 - 1,080 840 - 1350

Japan 10 - 15 10 - 17 12 - 20

Malaysia 180 - 240 180 - 300 240 - 360

Singapore 140 - 180 170 - 210 190 - 250

SENIOR FINANCE MANAGER SME MID MNC

Mainland China 300 - 500 450 - 600 500 - 800

Hong Kong 540 - 580 580 - 780 750 - 1,150

Japan 10 - 12 10 - 14 12 - 15

Malaysia 130 - 180 180 - 216 168 - 240

Singapore 95 - 125 110 - 160 150 - 180

FINANCE MANAGER SME MID MNC

Mainland China 200 - 400 250 - 500 350 - 550

Hong Kong 455 - 530 540 - 650 572 - 780

Japan 8 - 11 8 - 13 10 - 14

Malaysia 84 - 120 120 - 180 140 - 180

Singapore 75 - 100 90 - 120 110 - 140

ASSISTANT FINANCE MANAGER SME MID MNC

Mainland China 100 - 250 180 - 340 250 - 400

Hong Kong 420 - 480 480 - 550 585 - 680

Japan 6 - 10 8 - 10 8 - 12

Malaysia 72 - 84 84 - 96 84 - 96

Singapore 60 - 75 65 - 90 80 - 100

SENIOR MANAGEMENT ACCOUNTANT SME MID MNC

Mainland China 80 - 150 110 - 160 110 - 200

Hong Kong 264 - 384 336 - 480 360 - 540

Japan 6 - 8 7 - 10 8 - 12

Singapore 80 - 100 90 - 120 110 - 150



NOTES







MANAGEMENT ACCOUNTANT SME MID MNC

Mainland China 100 - 150 120 - 200 130 - 250

Hong Kong 265 - 300 300 - 360 330 - 410

Japan 5 - 8 7 - 10 8 - 12

Malaysia 84 - 102 102 - 108 108 - 120

Singapore 55 - 75 70 - 90 90 - 110

SENIOR FINANCIAL ACCOUNTANT SME MID MNC

Mainland China 130 - 180 150 - 190 160 - 250

Hong Kong 264 - 384 336 - 480 360 - 540

Japan 6 - 8 7 - 10 8 - 12

Singapore 70 - 90 80-110 90 - 120

FINANCIAL ACCOUNTANT SME MID MNC

Mainland China 100 - 150 130 - 150 130 - 180

Hong Kong 265 - 300 300 - 360 330 - 410

Japan 3 - 5 4 - 7 5 - 8

Malaysia 84 - 102 102 - 108 108 - 120

Singapore 55 - 75 65 - 90 78 - 100

FP&A DIRECTOR SME MID MNC

Mainland China N/A N/A 800 - 1,200

Hong Kong 840 - 1000 960 - 1200 1,080 - 1,500

Japan 10 - 15 10 - 18 12 - 25

Malaysia 180 - 240 216 - 264 360 - 420

Singapore 160 - 180 180 - 220 210 - 250

FP&A MANAGER SME MID MNC

Mainland China N/A N/A 300 - 600

Hong Kong 480 - 650 600 - 800 600 - 950

Japan 8 - 12 10 - 15 10 - 18

Malaysia 130 - 180 120 - 192 132 - 192

Singapore 85 - 115 110 - 150 140 - 180

FINANCIAL ANALYST SME MID MNC

Mainland China 120 - 150 150 - 180 180 - 250

Hong Kong 280 - 384 360 - 480 360 - 540

Japan 5 - 8 6 - 10 7 - 12

Malaysia 72 - 96 72 - 120 120 - 156

Singapore 60 - 85 75 - 95 90 - 110



NOTES







TAX DIRECTOR/HEAD SME MID MNC

Mainland China 600 - 750 700 - 900 800 - 1,500

Hong Kong 780 - 960 840 - 1,000 1,080 - 1,600

Japan N/A 12 - 16 15 - 20

Malaysia 144 - 180 180 - 240 300 - 540

Singapore 120 - 150 150 - 200 200 - 300

TAX MANAGER SME MID MNC

Mainland China 250 - 450 300 - 500 450 - 900

Hong Kong 480 - 720 620 - 840 720 - 1,080

Japan 6 - 10 8 - 13 12 - 15

Malaysia 96 - 144 144 - 216 216 - 264

Singapore 85 - 115 110 - 140 150 - 180

TAX ACCOUNTANT SME MID MNC

Mainland China 110 - 160 130 - 210 140 - 260

Japan 4 - 7 5 - 8 6 - 10

Malaysia 60 - 84 102 - 120 120 - 156

Singapore 50 - 70 60 - 80 70 - 100

HEAD OF TREASURY/

CORPORATE TREASURER SME MID MNC

Mainland China N/A N/A 600 - 1,300

Hong Kong 840 - 1,080 960 - 1,200 1,200 - 2,000

Japan N/A 12 - 16 12 - 18

Singapore 110 - 150 135 - 185 165 - 250

SENIOR TREASURY MANAGER SME MID MNC

Mainland China N/A 450 - 600 600 - 900

Hong Kong N/A N/A 780 - 1,000

Japan N/A 12 - 15 15 - 18

Singapore 90 - 120 110 - 150 140 - 170

TREASURY MANAGER SME MID MNC

Mainland China 300 - 400 400 - 500 500 - 700

Hong Kong 420 - 480 480 - 650 600 - 940

Japan N/A 10 - 12 12 - 15

Singapore 75 - 95 85 - 115 110 - 150



NOTES







TREASURY SPECIALIST SME MID MNC

Mainland China 100 - 150 130 - 150 150 - 250

Japan N/A 6 - 9 8 - 10

Singapore 55 - 70 65 - 85 75 - 100

TREASURY ACCOUNTANT SME MID MNC

Mainland China 100 - 150 130 - 150 150 - 250

Hong Kong N/A 180 - 420 300 - 480

Japan N/A 5 - 8 7 - 9

Singapore 60 - 80 70 - 90 95 - 125

PROJECT CONTROLLER SME MID MNC

Mainland China 190 - 250 250 - 400 450 - 1,300

Japan 4 - 6 6 - 8 6 - 10

Singapore 145 - 165 155 - 185 175 - 200

PROJECT FINANCE MANAGER SME MID MNC

Mainland China N/A 220 - 400 350 - 600

Japan 7 - 10 8 - 12 8 - 15

Malaysia 120 - 156 156 - 180 180 - 216

Singapore 90 - 120 110 - 130 120 - 140

SHARED SERVICE CENTRE Team Lead Assistant Manager Manager

Head of Shared

Service Centre

Mainland China 250 - 400 400 - 600 600 - 800 800 - 1,500

Malaysia 90 - 120 102 - 168 180 - 300 240 - 480

Singapore 50 - 75 65 - 90 90 - 150 150 - 250


NOTES

ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | ACCOUNTING SUPPORT



GRADUATES Assistant Accountant Graduate Accountant

Mainland China 65 - 120 55 - 100

Japan 3 - 5 3 - 5

Malaysia 54 - 66 42 - 48

Singapore 45 - 65 35 - 45

SUPPORT Accounts Receivable Accounts Payable Credit Control Bookkeeper

Mainland China 40 - 65 40 - 65 40 - 55 40 - 70

Hong Kong 176 - 300 176 - 300 220 - 404 176 - 300

Japan 3 - 5 3 - 5 4 - 7 3 - 5

Malaysia 30 - 54 30 - 54 36 - 60 N/A

Singapore 40 - 60 40 - 60 40 - 60 30 - 45


NOTES

ACCOUNTANCY & FINANCEBANKING INDUSTRY

• Salaries are represented in local currencies• Salaries do not include bonuses

FINANCIAL SERVICES Financial Controller

Senior Finance

Manager Finance Director/CFO

Mainland China 900 - 1,200 600 - 1,000 1,200 - 2,000

Hong Kong 1,150 - 1,600 850 - 1,150 1,600 - 3,500

Japan 10 - 25 10 - 18 12 - 30

Malaysia 240 - 390 144 - 210 420 +

Singapore 220 - 300 180 - 220 300 - 500

Assistant

Finance Manager Finance Manager

Tax Director/

Head of Tax

Mainland China 300 - 500 500 - 750 1,200 - 1,600

Hong Kong 420 - 540 540 - 840 1,400 - 2,200

Japan 7 - 12 8 - 15 15 - 25

Malaysia 66 - 96 96 - 168 204 - 300

Singapore 80 - 120 120 - 180 250 - 500

Tax Manager Tax Accountant

Dept Head

Product Control

Senior

Product Controller

Mainland China 500 - 800 250 - 400 1,200 - 1,600 800 - 1,200

Hong Kong 650 - 1,000 400 - 780 1,300 - 2,500 840 - 1,300

Japan 10 - 18 6 - 12 18 - 20 12 - 16

Malaysia 132 - 200 60 - 120 252 - 360 156 - 240

Singapore 140 - 220 80 - 160 200 - 250 150 - 200

Treasury Accountant Treasury Manager Product Controller

Senior

Treasury Manager

Mainland China 150 - 350 350 - 650 650 - 900 700 - 1,000

Hong Kong 420 - 550 800 - 1,100 500 - 800 1,100 - 1,500

Japan 7 - 10 12 - 15 10 - 14 15 - 18

Malaysia 72 - 120 120 - 216 84 - 160 216 - 350

Singapore 70 - 120 140 - 180 80 - 140 180 - 300

Accounts

Receivable Accounts Payable Credit Control

Mainland China 60 - 120 60 - 120 200 - 500

Hong Kong 200 - 300 200 - 300 200 - 320

Japan 5 - 8 5 - 8 8 - 15

Malaysia 34 - 66 34 - 66 36 - 66

Singapore 50 - 75 50 - 75 50 - 90


NOTES

• Salaries are represented in local currencies• Salaries do not include bonuses

ACCOUNTANCY & FINANCEPROFESSIONAL PRACTICE

ADVISORY PRACTICES Consultant

Senior Associate/

Assistant Manager

Hong Kong 240 - 300 320 - 560

Japan 6 - 8 8 - 11

Malaysia 36 - 48 60 - 84

Singapore 35 - 45 50 - 70

Manager Senior Manager Director/Partner

Hong Kong 570 - 920 920 - 1,200 1,200 +

Japan 9 - 11 12 - 15 18 +

Malaysia 84 - 120 120 - 180 240 +

Singapore 75 - 100 100 - 150 180 +

TAX Tax Consultant Senior Tax Consultant

Hong Kong 240 - 400 320 - 600

Japan 5 - 8 7 - 10

Malaysia 36 - 48 60 - 84

Singapore 40 - 60 60 - 90

Tax Manager Senior Tax Manager Tax Director

Hong Kong 570 - 920 920 - 1,200 1,200 +

Japan 10 - 14 12 - 16 18 +

Malaysia 84 - 120 120 - 180 240 +

Singapore 100 - 150 150 - 180 180 +


NOTES

AUDIT, RISK & COMPLIANCEAUDIT



BANKING Auditor

Senior Auditor

(AVP)

Audit Manager

(VP)

Senior Audit

Manager (SVP)

Head of Audit/

Audit Director

Mainland China 250 - 400 350 - 600 600 - 800 800 - 1,000 1,000 - 1,600

Hong Kong 350 - 550 450 - 750 650 - 1,100 900 - 1,300 1,700 - 2,500

Japan 6 - 12 8 - 14 10 - 16 12 - 18 12 - 25

Malaysia 48 - 60 60 - 96 96 - 180 180 - 240 240 - 480

Singapore 50 - 95 95 - 135 135 - 200 200 - 250 250 - 400

INSURANCE

Auditor/

Senior Auditor

Assistant Audit

Manager Audit Manager Senior Manager

Head of Audit/

Audit Director

Mainland China 120 - 200 150 - 250 250 - 450 500 - 800 650 - 1,000

Hong Kong 300 - 360 360 - 540 580 - 780 780 - 1,000 1,200 - 2,000

Japan 5 - 8 7 - 10 10 - 14 12 - 15 15 - 19

Malaysia 42 - 60 60 - 84 84 - 144 144 - 240 240 - 480

Singapore 50 - 80 80 - 120 120 - 180 150 - 200 200 - 350

COMMERCE & INDUSTRY

Auditor/

Senior Auditor

Assistant Audit

Manager Audit Manager Senior Manager

Head of Audit/

Audit Director

Mainland China 120 - 250 180 - 300 300 - 500 500 - 700 700 - 1,500

Hong Kong 240 - 300 320 - 470 500 - 720 750 - 1,100 1,200 +

Japan 5 - 7 8 - 10 9 - 13 13 - 15 15 +

Malaysia 36 - 72 72 - 102 108 - 144 144 - 220 220 +

Singapore 35 - 70 70 - 100 100 - 120 120 - 150 150 +

PROFESSIONAL SERVICES

Associate/

Senior Associate

Assistant

Manager Manager Senior Manager

Director/

Partner

Mainland China 240 - 300 320 - 470 500 - 720 750 - 1,000 1,200 +

Hong Kong 240 - 300 320 - 470 500 - 720 750 - 1,100 1,200 +

Japan 5 - 7 8 - 10 9 - 13 13 - 15 15 +

Malaysia 36 - 60 66 - 84 84 - 120 120 - 180 240 +

Singapore 35 - 65 65 - 75 75 - 100 100 - 180 180 +


NOTES

AUDIT, RISK & COMPLIANCERISK | BANKING



CREDIT RISK Analyst Associate

Assistant

Vice President Vice President Director

Mainland China 120 - 240 240 - 360 360 - 600 600 - 960 960 +

Hong Kong 180 - 300 300 - 600 600 - 900 900 - 1,200 1,200 +

Japan 7 - 9 9 - 11 11 - 15 15 - 20 20 +

Malaysia 48 - 60 72 - 90 96 - 120 132 - 180 240 - 300

Singapore 60 - 90 90 - 100 100 - 135 135 - 220 220 +

MARKET RISK Analyst Associate

Assistant


Mainland China 120 - 240 240 - 360 360 - 600 600 - 960 960 +

Hong Kong 180 - 360 360 - 480 480 - 660 660 - 960 1,080 +

Japan 7 - 9 9 - 12 13 - 15 15 - 20 20 +

Malaysia 48 - 72 72 - 116 120 - 156 180 - 240 300 - 360

Singapore 60 - 90 90 - 110 110 - 150 150 - 230 230 +

OPERATIONAL RISK Analyst Associate

Assistant


Mainland China 120 - 240 240 - 360 360 - 600 600 - 1,080 1,080 +

Hong Kong 260 - 480 480 - 660 660 - 1,000 1,000 - 1,400 1,400 - 2,000

Japan 6.5 - 8 8 - 10 11 - 14 15 - 20 20 +

Malaysia 60 - 84 84 - 120 108 - 180 192 - 240 276 - 420

Singapore 60 - 90 90 - 100 100 - 135 135 - 220 220 +


NOTES

AUDIT, RISK & COMPLIANCERISK | COMMERCE & INDUSTRY



RISK | INSURANCE

RISK | PROFESSIONAL SERVICES

Executive/

Senior Executive

Assistant

Manager/

Manager Senior Manager Director

Mainland China 120 - 250 250 - 400 300 - 600 600 - 1,000

Hong Kong 150 - 300 300 - 450 450 - 750 750 +

Japan 6 - 10 7 - 16 10 - 20 15 +

Malaysia 36 - 78 78 - 168 168 - 210 240 +

Singapore 35 - 70 70 - 130 130 - 180 180 +

Executive/

Senior Executive

Assistant

Manager Manager Senior Manager Director

Mainland China 180 - 250 200 - 360 300 - 500 400 - 700 700 +

Hong Kong 300 - 360 380 - 520 540 - 660 720 - 900 960 - 1,300

Japan 5 - 7 7 - 9 9 - 12 12 - 17 18 +

Malaysia 48 - 72 72 - 96 96 - 144 144 - 204 216 +

Singapore 35 - 60 60 - 80 80 - 120 120 - 200 200 +

ENTERPRISE RISK

Associate/

Senior Associate

Assistant


Director/

Partner

Mainland China 120 - 250 200 - 400 400 - 700 700 - 900 800

Hong Kong 150 - 300 300 - 450 450 - 750 600 - 850 850 +

Japan 5 - 8 7 - 12 9 - 16 10 - 20 17 +

Malaysia 48 - 72 72 - 96 96 - 144 144 - 204 216 +

Singapore 35 - 65 65 - 75 75 - 100 100 - 180 180 +


NOTES



AUDIT, RISK & COMPLIANCECOMPLIANCE | BANKING

COMPLIANCE | INSURANCE

COMPLIANCE | COMMERCE & INDUSTRY

COMPLIANCE | PROFESSIONAL SERVICES

Analyst Associate

Assistant


Mainland China 120 - 240 240 - 360 360 - 600 600 - 1,200 1,200 +

Hong Kong 216 - 360 336 - 540 544 - 840 840 - 1,500 1,500 +

Japan 7 - 9 9 - 13 13 - 15 15 - 20 20 +

Malaysia 60 - 78 78 - 132 132 - 216 216 - 264 264 +

Singapore 50 - 75 75 - 90 90 - 130 130 - 220 220 +

Offi cer/

Senior Offi cer

Assistant


Hong Kong 300 - 360 420 - 540 600 - 780 780 - 900 980 - 1,600

Japan 5 - 8 6 - 10 8 - 12 13 - 18 15 - 18

Malaysia 51 - 72 72 - 108 108 - 180 180 - 222 222 - 492

Singapore 35 - 65 65 - 90 90 - 150 150 - 200 200 - 350

Offi cer/

Senior Offi cer

Assistant


Mainland China 120 - 240 180 - 350 300 - 500 400 - 700 700 +

Hong Kong 150 - 300 300 - 450 450 - 750 600 - 850 850 +

Japan 5 - 8 7 - 12 9 - 16 10 - 20 17 +

Malaysia 60 - 72 72 - 102 102 - 180 180 - 264 264 +

Singapore 35 - 60 60 - 80 80 - 120 120 - 180 180 +

Associate/

Senior Associate

Assistant


Director/

Partner

Mainland China 120 - 250 180 - 400 300 - 700 600 - 900 800 +

Hong Kong 150 - 300 300 - 450 450 - 750 600 - 850 850 +

Japan 5 - 8 7 - 12 9 - 16 10 - 20 17 +

Malaysia 60 - 72 72 - 96 96 - 168 168 - 222 222 +

Singapore 35 - 65 65 - 75 75 - 100 100 - 180 180 +


MAINLAND CHINA

THE BELT AND ROAD PROJECT

INCREASED REGULATION AND FINANCIAL

MARKET DELEVERAGING ARE COMBINING

TO INCREASE HIRING ACTIVITY

Owing to the government’s ‘Belt and Road’ initiative, recruitment activity remains positive for international corporate and investment banks in Mainland China. This has seen increased hiring in trade finance, structured export finance and project finance in particular, and we predict that demand will remain strong in 2019. Applicants with client relationships in infrastructure, engineering procurement and construction (EPC) and transportation industries, or with experience in offshore lending, syndication loan, export trade finance and debt capital markets are particularly in demand, and we have observed solid salary increases in these areas.

Increased regulation designed to limit business scope, tighten payment quotas, improve client identity certification as well as regulating non-custodian business for the internet finance P2P sector has slowed the growth of online banking business. However, foreign banks have built up their digital banking teams to provide solutions to mid-size clients, especially in transaction banking products. Relationship managers, product managers, credit risk specialists and product sales specialists remain in high demand, particularly those with experience and networks in the telecommunications, media and technology sectors.

CANDIDATES WITH EXPERIENCE

OUTSIDE OF THE FINANCE SECTOR AT

AN ADVANTAGE

With financial market deleveraging a stand-out concern we have seen new trends on the rise in both primary and secondary markets. One such example is in the raising of the IPO threshold, making it increasingly important for companies to utilise their reserves. This is leading to the creation of investment teams that can perform acquisitions that strengthen synergy and enhance efficiency. In hiring for these roles, professionals with a range of experience beyond finance and strong business sector knowledge — particularly in technology, healthcare and pharma — have a competitive advantage.

SOUGHT-AFTER TALENT IS

INCREASINGLY ENTICED BY CAREER

DEVELOPMENT OPPORTUNITIES

Recent China Securities Regulatory Commission policy changes allowing foreign-controlled joint-venture securities businesses will lead to continued demand for experienced securities professionals over the next year, meaning positive salary growth in the sector. Overall, we predict that recruitment levels will remain positive for the banking and securities sector, and we will see fierce competition to attract the most sought-after skillsets throughout 2019. At the same time, we expect employers to continue employing talent-retention tactics beyond comprehensive remuneration packages, with clear career development planning proving attractive to candidates.

HONG KONG

HONG KONG IS SEEING INCREASED

HIRING IN A NUMBER OF AREAS, FROM

FINTECH TO EUROPEAN BANKING

WEALTH MANAGEMENT

The Greater Bay Area (GBA) initiative has ignited hiring momentum in commercial and corporate banking. In particular, Asia-headquartered banks are leading the way by expanding their GBA teams and capturing the business potential. The increase in headcount is spread through middle and team-management hiring, while banks in Hong Kong are keen on acquiring talent from other GBA locations in order to utilise their network advantage. This recruitment impetus is expected to continue as the GBA initiative develops and matures, with the inevitable result of increasingly competitive salary offers.

RISK PROFESSIONALS CAN EXPECT

SALARY CLIMBS DUE TO INDUSTRY

REGULATORY ATTENTION

The private banking and wealth management specialisms remain in strategic focus for European banks, thus increasing hiring in these areas. Relationship managers at director level or above with solid private banking connections are highly sought after. Meanwhile, as the industry continues to receive considerable regulatory attention, compliance, risk and control professionals

remain in high demand in the form of both permanent and temporary hires, and as a result salary augmentation is commonplace.

Fintech is another area which has seen significant growth, with cash management and solutions professionals key. As evidenced by HKMA licence applications, many financial institutions are developing their virtual banking departments, and we predict that this will become an important hiring space going forward.

CANDIDATE ENTICEMENTS, THOUGH

COMPETITIVE, REMAIN CONSIDERED

Being a sophisticated market, Hong Kong companies are increasingly selective in identifying talent, while coming up with reasonable yet competitive packages to get the right people on board. We advise candidates to manage their salary expectations accordingly and understand their true push/pull factors when considering a job switch in 2019.

JAPAN

AS NEWER SECTORS BECOME MORE

PROMINENT, HIRING DEMAND

CONTINUES TO GROW

Recruitment in Japan’s banking & financial services industry remained stable through 2018, with most firms maintaining their hiring levels of previous years, a situation unlikely to change in 2019 in the securities, banking and asset management sectors. However, there has been a notable increase in headcounts in newer sectors, particularly for cryptocurrency firms entering what is a rapidly growing market.

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BANKING & FINANCIAL SERVICES

“Foreign banks in Mainland China will continue to increase headcount in their digital banking teams.”


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BANKING & FINANCIAL SERVICESCompliance and risk continue to be areas of high demand throughout the industry, whilst KYC, AML and experienced operations professionals are particularly sought after, with competitive salary increases seen in both the temporary and permanent recruitment sectors.

EXPERIENCE AT A PREMIUM LEADING

SALARIES TO RISE

Overall, hiring demand in the finance sector remains solid across most functions, and although companies are hiring in less volume than they were prior to the global financial crisis, skilled professionals are more in demand than they have been in recent years. In many areas hiring individuals with extensive experience has become a particular challenge as a large proportion have left the industry, and a more competitive hiring market at junior level has created a talent pool with fewer experienced candidates. As a result, strong performers in most functions are able to command good salaries.

ORGANISATIONS MORE LIKELY TO

CONSIDER OVERSEAS TALENT

With demographics being what they are in this candidate-short market, companies are increasingly open to accessing a wider talent pool by considering candidates based overseas.

MALAYSIA

DECLINING REVENUES SEES

INSTITUTIONS TURN TO SME CUSTOMERS

Across most areas salaries have increased in the Malaysian banking and financial services industry as hiring demand remains strong, particularly in the corporate and commercial banking sector.

In order to curb the rising default rate, the Central Bank has encouraged lenders to be more conservative when offering loans to the consumer market. At the same time, the industry has observed a loan growth of around 5.4 per cent year-on-year, with a total banking system loan status of approximately RM1.6 trillion. With declining revenue from corporate and commercial and retail outlets, the banks are turning their focus to the small and medium enterprise (SME) banking sector and have been aggressively hiring sales managers in

this space as well as launching new products to entice SME customers.

DEMAND FOR ISLAMIC BANKING AND

COMPLIANCE PROFESSIONALS

INCREASES

Hiring demand in Islamic banking and asset management also remains strong, and candidates with relevant skills and experience are in high demand, leading to competitive salary offers.

At the same time, financial institutions are continuing to place higher emphasis on audit, risk and compliance recruitment. This is particularly evident in the sustained competition amongst banks in hiring experienced talent throughout the financial year, a situation we expect to continue in 2019 leading to increasing salaries.

SINGAPORE

A RECALIBRATION FOR SINGAPORE’S

FINANCIAL SERVICES INDUSTRY IS

DRIVING HIRING

2018 represented a period of change within Singapore’s financial services industry, particularly in banking, as financial institutions looked to refocus their businesses. Throughout the year we saw renewed emphasis from banks and other financial institutions on growing their front office and revenue generating teams.

Back and middle office hiring remained relatively flat as automation and offshoring continue to be prevalent. Consequently, salaries have remained relatively flat year-on-year and we predict little change in 2019. That said, there were a number of areas of improvement, with experienced front office corporate and investment banking and retail and private banking professionals moving with significant salary increments.

SOUTHEAST ASIA INVESTMENT CREATES

DEMAND FOR RELATIONSHIP MANAGERS

In 2019 we foresee strong demand in the market for experienced corporate banking relationship managers and product specialists as banks look to capitalise on investment across Southeast Asia. Additionally, with investment banking slowing, we are seeing a rise in the more traditional sectors of business banking and enterprise banking, with

significant hiring activity to follow. We also anticipate significant growth across retail banking and private banking, particularly in the front office.

As is now customary in the banking sector, regulatory-focused positions will continue to be in demand in 2019. AML and KYC candidates are particularly sought after, and salaries are likely to grow as a result. Internal audit, operational risk and compliance are other areas that should see salary increases due to the relatively small talent pool that exists in Singapore.

CANDIDATES ARE MORE OPEN TO

CONTRACTING

As in 2018, we anticipate an increase in the reliance on contractors within financial services, particularly in the back and middle office. With contracting becoming more established in the market we are seeing candidates being more receptive to these opportunities, and employers are looking to make salary packages more attractive.

Source: Colliers International, 2018 Top Locations in Asia: Finance

1. Hong Kong

2. Tokyo

3. Singapore

4. Shanghai

5. Seoul

Best locations in Asia for fi nance sector occupiers:


NOTES

• Salaries are annual and represented in local currencies


• Typical benefi ts on top of salaries stated include performance based bonuses

BANKING & FINANCIAL SERVICESFRONT OFFICE

CORPORATE FINANCE, M&A, ECM/DCM Analyst Associate

Vice

President Director

Managing

Director

Mainland China 300 - 500 500 - 750 600 - 1,200 1,200 - 2,000 1,800 +

Hong Kong 480 - 720 600 - 1,000 1,000 - 1,600 1,600 - 2,000 2,000 +

Japan 7.5 - 8.5 8.5 - 13 14 - 20 20 - 35 35 +

Malaysia 42 - 64 64 - 96 96 - 192 192 - 360 360 +

Singapore 70 - 90 90 - 130 130 - 220 220 - 350 350 +

ASSET MANAGEMENT Sales Senior Sales Head of Sales Junior Trader Trader

Mainland China 240 - 360 360 - 700 700 - 1,000 400 - 600 600 - 800

Hong Kong 600 - 900 900 - 1,500 1,500 + 360 - 600 600 +

Japan 6 - 10 10 - 15 15 - 20 7.5 - 11 11.5 - 16

Malaysia 48 - 84 96 - 180 144 - 276 48 - 84 84 +

Singapore 40 - 60 60 - 100 100 - 130 60 - 80 80 +

Research

Analyst

Snr Research

Analyst

Head of

Research

Assistant

Fund Manager

Fund

Manager

Chief Fund

Manager

Mainland China 240 - 360 360 - 800 800 + 400 - 700 600 - 1,000 1,000 +

Hong Kong 300 - 600 600 - 1,400 1,400 + 660 - 1,000 1,000 - 1,400 1,400 +

Japan 7 - 11 10 - 16 15 - 25 8 - 12 10 - 18 18 - 25

Malaysia 60 - 84 77 - 144 144 - 504 100 - 180 120 - 252 300 - 540

Singapore 60 - 80 80 - 130 130 130 - 150 150 - 175 175 - 250

PRIVATE EQUITY Analyst Associate

Vice

President Director

Managing

Director

Mainland China 250 - 360 360 - 800 650 - 1,500 1,500 - 2,000 1,800 +

Hong Kong 420 - 600 600 - 1,000 1,000 - 1,400 1,400 - 1,800 1,800 +

Japan 8 - 13 10 - 15 15 - 25 20 - 30 30 +

Malaysia 42 - 64 64 - 96 96 - 192 192 - 360 360 +

Singapore 70 - 100 100 - 150 150 - 180 180 - 250 250 +

HEDGE FUND - INVESTMENT Analyst Associate VP

Assistant

Fund Manager

Fund

Manager

Mainland China 250 - 360 360 - 650 600 - 900 650 - 900 1,000 +

Hong Kong 500 - 700 700 - 1,000 1,000 - 1,350 1,200 - 1,500 1,500 - 3,000

Japan 8 - 13 13 - 16 16 - 26 10 - 15 20 +

Malaysia 40 - 54 54 - 108 108 - 156 156 - 228 228 - 264

Singapore 80 - 110 110 - 140 140 - 180 180 - 250 250 +


NOTES





HEDGE FUND - EXECUTION Risk Analyst Risk Manager

Quantitative

Analyst

Snr Quantitative

Analyst Trader

Senior

Trader

Mainland China 500 - 800 800 - 1,200 1,000 + 500 - 1,000 500 - 800 600 - 1,200

Hong Kong 400 - 700 720 + 1,000 + 1,500 + 400 - 800 800 +

Japan 10 - 12 12 - 15 12 - 15 15 - 25 15 - 25 20 - 30

Malaysia 40 - 72 72 - 114 114 - 168 168 - 216 216 - 288 288 +

Singapore 80 - 100 100 - 150 150 - 200 130 - 150 150 - 220 220 +

GLOBAL MARKETS Junior Trader Trader Senior Trader Desk Head

Quantitative

Analyst

Quantitative

VP

Mainland China 250 - 400 400 - 800 800 - 1,500 1,500 + 300 - 500 500 - 800

Hong Kong 300 - 540 600 - 1,200 1,200 - 2,500 2,500 + 600 + 850 +

Japan 8 - 11.5 12 - 20 20 - 30 30 - 40 8 - 12 12 - 20

Malaysia 60 - 90 90 - 150 150 - 276 276 + 60 - 90 90 - 190

Singapore 55 - 70 80 - 180 175 - 250 250 + 130 - 150 150 - 220

Quantitative

Director

Quantitative

MD

Associate

Structuring

VP

Structuring

Director

Structuring

MD

Structuring

Mainland China 800 - 1500 1,500 + 300 - 600 600 - 900 800 - 1500 1,500 +

Hong Kong 1,200 + N/A 500 - 800 850 - 1000 1,400 - 1,600 1,800 +

Japan 20 - 30 30 + 10 - 14.5 15 - 22 22 - 30 30 +

Malaysia 190 - 350 350 + 60 - 90 90 - 190 190 - 350 350 +

Singapore 220 - 300 300 + 90 - 130 130 - 220 220 - 350 350 +

FINANCIAL MARKETS SALES,

INSTITUTIONAL, CORPORATE,

RESEARCH, HEDGE FUNDS Associate

Vice

President DirectorManaging Director

Mainland China 300 - 500 500 - 1,200 1,200 - 2,000 2,000 +

Hong Kong 500 - 800 800 - 1,200 1,200 - 2,000 2,000 +

Japan 10 - 14 15 - 22 22 - 30 30 +

Malaysia 60 - 90 90 - 190 190 - 350 350 +

Singapore 90 - 130 140 - 220 220 - 300 300 +

RESEARCH/STRATEGY

(FICC & EQUITY) Analyst Associate

Vice

President Director

Managing

Director

Mainland China 250 - 360 360 - 600 600 - 1,000 900 - 1,500 1,200 +

Hong Kong 360 - 600 600 - 840 840 - 1,500 1,500 - 2,100 2,100 +

Japan 8 - 10 10 - 15 15 - 22 22 - 35 35 +

Malaysia 48 - 72 72 - 144 144 - 204 180 - 300 300 +

Singapore 70 - 90 100 - 150 150 - 200 200 - 300 300 +


NOTES





CORPORATE BANKING

Assistant

Relationship

Manager

Relationship

Manager

Senior

Relationship

Manager Team Head

Department

Head

Mainland China 180 - 240 240 - 500 480 - 1,000 780 - 1,320 1,320 +

Hong Kong 230 - 450 310 - 780 700 - 950 950 - 1,350 1,350 +

Japan 6 - 9 10 - 14 15 - 18 18 - 22 22 +

Malaysia 60 - 84 84 - 168 168 - 240 144 - 336 336 +

Singapore 60 - 80 80 - 130 130 - 220 220 - 250 250 +

COMMERCIAL BANKING

Assistant

Relationship

Manager

Relationship

Manager

Senior

Relationship

Manager Team Head

Department

Head

Mainland China 120 - 210 210 - 420 420 - 720 600 - 850 850 +

Hong Kong 220 - 400 300 - 600 600 - 800 720 - 950 1,000 +

Japan 5 - 7 8 - 12 13 - 15 15 - 20 20 +

Malaysia 48 - 72 72 - 156 156 - 216 216 - 300 300 +

Singapore 50 - 70 70 - 120 120 - 150 150 - 200 200 +

SME BANKING

Assistant

Relationship

Manager

Relationship

Manager

Senior

Relationship

Manager Team Head

Department

Head

Mainland China 80 - 180 150 - 300 300 - 480 420 - 600 600 +

Hong Kong 200 - 300 300 - 540 540 - 700 650 - 850 900 +

Japan 5 - 7 8 - 11 12 - 15 14 - 18 19 +

Malaysia 39 - 60 60 - 90 90 - 108 108 - 180 180 +

Singapore 50 - 70 70 - 120 120 - 150 150 - 200 200 +

FINANCIAL INSTITUTIONS BANKING

Assistant

Relationship

Manager

Relationship

Manager

Senior

Relationship

Manager Team Head

Department

Head

Mainland China 180 - 240 240 - 500 480 - 1,000 900 - 1,320 1,320 +

Hong Kong 250 - 400 400 - 600 600 - 960 960 - 1,350 1,350 +

Japan 6 - 9 10 - 14 15 - 18 18 - 22 22 +

Malaysia 56 - 72 72 - 156 156 - 220 220 - 280 280 +

Singapore 60 - 80 80 - 130 130 - 200 200 - 250 250 +

TRANSACTION BANKING

(CASH MANAGEMENT, TRADE FINANCE,

PROJECT & EXPORT FINANCE)

Assistant

Relationship

Manager

Relationship

Manager

Senior

Relationship

Manager Team Head

Department

Head

Mainland China 150 - 240 240 - 420 420 - 800 720 - 1,200 1,200 +

Hong Kong 300 - 480 480 - 720 720 - 1,200 1,200 - 1,600 1,600 +

Japan 6 - 9 10 - 14 15 - 18 18 - 22 22 +

Malaysia 38 - 60 60 - 108 108 - 180 180 - 252 252 +

Singapore 60 - 80 80 - 130 130 - 200 200 - 250 250 +


NOTES





FINANCIAL PLANNING &

WEALTH MANAGEMENT Wealth Manager

Senior Wealth

Manager

Premier Banking

Relationship

Manager

Private Banking

Client Services

Offi cer

Mainland China 200 - 360 390 - 650 200 - 350 260 - 360

Hong Kong 300 - 480 480 - 720 360 - 600 400 - 700

Japan 7 - 11 10 - 12 8 - 12 7 - 9

Malaysia 36 - 60 60 - 144 54 - 150 70 - 90

Singapore 34 - 42 42 - 58 80 - 85 42 - 58

Private Banking

Relationship

Manager

Senior Private Banking

Relationship

Manager Sales Manager Sales Director

Mainland China 420 - 600 600 - 1,200 500 - 800 800 +

Hong Kong 500 - 1,000 1,200 - 3,000 600 - 1,200 1,200 +

Japan 8 - 12 12 - 15 15 - 18 18 +

Malaysia 84 - 144 144 - 192 186 - 236 236 - 352

Singapore 60 - 150 150 - 250 70 - 100 120 - 180


NOTES

BANKING & FINANCIAL SERVICESMIDDLE OFFICE




TRADE SUPPORT Analyst Associate AVP Vice President Director

Mainland China 120 - 210 180 - 320 360 - 600 600 - 840 840 +

Hong Kong 300 - 400 400 - 600 600 - 800 800 - 1,000 1,000 +

Japan 6 - 8 8 - 10 10 - 14 15 - 20 20 +

Malaysia 54 - 60 60 - 108 108 - 144 144 - 216 216 +

Singapore 50 - 70 70 - 90 90 - 130 130 - 200 200 +

COLLATERAL MANAGEMENT/

CLIENT VALUATIONS Analyst Associate AVP Vice President Director

Mainland China 120 - 210 180 - 320 360 - 600 600 - 840 840 +

Hong Kong 150 - 300 300 - 500 500 - 700 700 - 900 900 +

Japan 6 - 8 8 - 10 10 - 14 15 - 20 20 +

Malaysia 60 - 72 72 - 120 120 - 156 156 - 216 216 +

Singapore 50 - 70 70 - 90 90 - 130 130 - 200 200 +

CHANGE MANAGEMENT/

PROJECT MANAGEMENT Business Analyst Project Manager

Head of Project

Management

Mainland China 120 - 240 240 - 480 600 +

Hong Kong 350 - 500 500 - 1,000 1,000 +

Japan 8 - 12 13 - 18 20 +

Malaysia 96 - 168 120 - 288 288 +

Singapore 60 - 130 130 - 220 220 +

ASSET MANAGEMENT

Product

Manager

Senior Product

Manager

Client Service/

Reporting

Specialist

Client Service/

Reporting

Manager

Head of Client

Service/

Reporting

Mainland China N/A N/A N/A 480 - 840 840 +

Hong Kong 600 - 780 780 - 960 480 - 720 720 - 960 960 +

Japan 7 - 11 10 - 18 8 - 10 10 - 12 12 - 15

Malaysia 78 - 138 138 - 240 108 - 156 156 - 216 216 +

Singapore 80 - 130 130 - 200 80 - 130 130 - 180 180 - 220


NOTES

BANKING & FINANCIAL SERVICESMIDDLE OFFICE




PERFORMANCE MEASUREMENT/

INVESTMENT RISK Associate/AVP Vice President Head

Mainland China 240 - 600 600 - 960 960 +

Japan 8 - 12 10 - 16 15 - 22

Malaysia 120 - 180 180 - 300 300 +

Singapore 100 - 150 150 - 200 200 - 250

TRANSACTION BANKING CLIENT SERVICE Offi cer Associate AVP Vice President Director

Mainland China 120 - 240 240 - 360 360 - 600 600 - 800 660 +

Hong Kong 180 - 300 300 - 420 420 - 540 540 - 660 660 +

Japan 6 - 7.5 8 - 10 10 - 13 13 - 18 18 +

Malaysia 48 - 78 80 - 120 120 - 150 150 - 216 216 - 340

Singapore 50 - 60 60 - 90 90 - 130 130 - 180 180 +

TRANSACTION BANKING

IMPLEMENTATION Offi cer Associate AVP Vice President Director

Mainland China 120 - 240 240 - 360 360 - 600 600 - 800 800 +

Hong Kong 240 - 300 300 - 420 420 - 600 600 - 800 800 - 1050

Japan 6 - 7.5 8 - 10 11 - 13 14 - 18 18 +

Malaysia 48 - 60 60 - 108 108 - 180 180 - 240 240 +

Singapore 50 - 70 80 - 130 130 - 150 150 - 200 200 - 300

INVESTMENT CONSULTANT Analyst Associate Manager

Mainland China 240 - 380 360 - 500 500 +

Hong Kong 240 - 360 360 - 480 500 - 1,200

Malaysia 54 - 72 72 - 162 162 +

Singapore 60 - 100 100 - 150 150 +

PRODUCT MANAGEMENT Analyst Associate

Senior Associate/

Manager

Mainland China 220 - 320 300 - 360 360 - 480

Hong Kong 260 - 360 360 - 840 840 +

Japan 6 - 7 8 - 10 10 - 11

Malaysia 60 - 84 84 - 156 144 - 204

Singapore 50 - 70 70 - 100 100 - 180


NOTES

BANKING & FINANCIAL SERVICESBACK OFFICE




CORPORATE ACTIONS/SETTLEMENTS Analyst Associate AVP VP Director

Mainland China 120 - 180 180 - 300 300 - 480 480 - 700 700 +

Hong Kong 160 - 250 250 - 400 400 - 550 550 - 700 700 +

Japan 6 - 8 8 - 10 10 - 13 13 - 17 15 - 18

Malaysia 42 - 72 72 - 108 108 - 150 150 - 200 200 +

Singapore 40 - 60 60 - 80 80 - 110 110 - 180 180 +

DOCUMENTATION/KNOW YOUR CLIENT/

CLIENT ONBOARDING Analyst Associate AVP VP Director

Mainland China 120 - 180 180 - 300 300 - 480 480 - 700 700 +

Hong Kong 240 - 400 380 - 660 640 - 900 900 - 1,200 1,200 +

Japan 6 - 7.5 8 - 10 10 - 13 13 - 18 18 +

Malaysia 54 - 78 78 - 102 102 - 150 150 - 180 180 - 264

Singapore 50 - 70 70 - 90 90 - 120 120 - 220 220 +

BANKING OPERATIONS

(TREASURY OPS, MM, FX) Offi cer Associate AVP VP Director

Mainland China 120 - 180 180 - 300 300 - 480 480 - 700 700 +

Hong Kong 150 - 240 240 - 360 340 - 500 500 - 700 700 +

Japan 6 - 7.5 8 - 10 10 - 13 13 - 17 18 +

Malaysia 54 - 60 60 - 96 96 - 150 150 - 240 240 +

Singapore 40 - 60 60 - 80 80 - 120 120 - 200 200 +

TRANSACTION BANKING OPERATIONS Offi cer Associate AVP VP Director

Mainland China 120 - 180 180 - 300 300 - 480 480 - 700 700 +

Hong Kong 180 - 300 300 - 420 420 - 540 540 - 660 660 +

Japan 6 - 7.5 8 - 10 10 - 13 13 - 17 18 +

Malaysia 48 - 60 60 - 96 96 - 150 150 - 225 225 +

Singapore 50 - 70 70 - 90 90 - 120 120 - 200 200 +

LOAN ADMINISTRATION/CREDIT OPERATION Offi cer Associate AVP VP Director

Mainland China 120 - 180 180 - 300 300 - 480 480 - 700 700 +

Hong Kong 180 - 300 300 - 400 400 - 600 600 - 800 N/A

Japan 6 - 7.5 8 - 10 10 - 13 13 - 17 18 +

Malaysia 48 - 60 60 - 84 84 - 144 144 - 200 200 +

Singapore 40 - 60 60 - 90 90 - 130 130 - 200 200 +

FUND OPERATIONS Administrator

Senior

Administrator Manager VP Director

Mainland China 120 - 180 180 - 300 300 - 480 480 - 700 700 +

Hong Kong 250 - 350 380 - 480 480 - 840 800 - 1,100 1,000 - 1,400

Japan 6 - 8 8 - 10 10 - 12 8 - 12 15 +

Malaysia 54 - 72 54 - 60 60 - 96 96 - 180 300 +

Singapore 40 - 55 55 - 80 80 - 120 120 - 200 200 +


NOTES




BANKING & FINANCIAL SERVICESRETAIL

BRANCH MANAGEMENT Sub Branch Manager

Branch

Manager

Regional/

District Manager

Mainland China 360 - 480 960 - 1,500 480 - 960

Hong Kong 520 - 720 620 - 800 900 +

Japan N/A 10 - 12 13 +

Malaysia 84 - 108 120 - 180 180 - 264

Singapore N/A 50 - 75 80 - 110

OPERATIONAL BRANCH STAFF Teller Supervisor Operations Manager

Mainland China 60 - 120 120 - 240 240 - 360

Hong Kong 100 - 150 200 - 300 300 +

Japan 3 - 4 5 - 8 8 - 10

Singapore 20 - 30 42 - 47 60 - 100

RELATIONSHIP MANAGEMENT

Assistant

Relationship Manager

Relationship

Manager

Senior Relationship

Manager Sales Manager

Mainland China 120 - 180 180 - 300 240 - 390 360 - 600

Hong Kong 300 - 350 420 - 540 576 - 720 780 - 950

Japan 5 - 7 8 - 11 11 - 14 14 - 18

Malaysia 48 - 72 66 - 96 96 - 120 120 +

Singapore 60 - 100 100 - 150 150 - 200 180 +

MORTGAGE Specialist Senior Specialist Team Head Region Head

Mainland China 120 - 240 180 - 300 300 - 600 600 +

Hong Kong 180 - 240 240 - 360 360 - 600 800 +

Japan 4 - 6 6 - 8 9 - 11 12 +

Malaysia 48 - 72 72 - 96 96 - 120 120 - 180

Singapore 60 - 80 80 - 100 120 - 150 180 +

INSURANCE AND INVESTMENT Specialist Senior Specialist Team Head Region Head

Mainland China 120 - 240 180 - 300 300 - 600 600 +

Hong Kong 180 - 280 360 - 500 700 - 850 1,000 +

Japan 4 - 6 6 - 9 9 - 12 13 +

Malaysia 54 - 66 66 - 96 96 - 144 144 - 243

Singapore 60 - 80 80 - 100 120 - 150 180 +


MAINLAND CHINA

DEVELOPMENTS SURROUNDING THE

ONE BELT, ONE ROAD INITIATIVE MEAN

THAT CANDIDATES IN A NUMBER OF

AREAS WITH LOCAL AND

INTERNATIONAL EXPERIENCE WILL

BE REQUIRED

Mainland China’s US$1 trillion venture to develop infrastructure across Asia in the ambitious ‘One Belt, One Road’ project has grown to encompass 65 countries and regions. The initiative will eventually connect Mainland China’s southern provinces to Southeast Asia and Africa’s east coast via a network of roads, railways, ports and maritime infrastructure. As a result, Chinese construction and engineering companies are expected to branch out into these areas, meaning that candidates with local and international project experience continue to be high in demand in 2019.

EXCHANGE RATE FLUCTUATIONS SLOW

PROJECT EXPANSION

In spite of these developments, engineering, procurement and construction (EPC) and engineering, procurement and construction management (EPCM) companies have seen lower margins than previous years. Locally, EPCM companies have been seeking out opportunities to cooperate with landlords and the Chinese government in order to encourage higher, long-term revenue. On the overseas expansion front, most companies have been pulling away from projects due to fluctuations in foreign exchange rates.

Both local and foreign developers are putting an increased emphasis on asset management. Interior designers, fitting out project managers and those with experience in Mainland China’s Ministry of Ecology and Environment projects will therefore be highly desirable candidates.

On the commercial front there has been an increase in pharmaceutical and life sciences, data centre and semi-conductor projects, thereby creating abundant job opportunities for talent in the construction and engineering sector.

HONG KONG

A NUMBER OF IMMENSE CONSTRUCTION

INITIATIVES COUPLED WITH VAST

SPENDING IS ENCOURAGING GROWTH

IN HONG KONG’S CONSTRUCTION AND

ENGINEERING INDUSTRY

Hong Kong’s construction and engineering market will remain equally stable across both the public and private sectors, according to the Construction Industry Council (CIC), with a projected spending of HK$290 billion in Hong Kong’s construction & engineering industry. The market therefore tilts in favour of candidates with experience in either sector in 2019.

THIRD RUNWAY TO LAND CANDIDATES

GREATER OPPORTUNITIES

In the public sector, Hong Kong International Airport’s third runway project continues to have a major impact on the industry. The land-reclamation stage of this endeavour — a mammoth undertaking in itself — is expected to be complete in 2020, stimulating a great demand for geotechnical and civil engineers and planners. We are also seeing an increased demand for engineers with experience in the design and development of baggage handling systems as airport control systems enter the design and implementation phase. This project will continue to present candidates with a multitude of opportunities over the coming years.

The major ongoing construction of the Sha Tin to Central line is in the final planning stages of construction as development accelerates in 2019. This enterprise has filled the void left following the completion of the XRL line in 2018, and candidates with experience in the latter project will be at an advantage.

SINGAPORE

FOLLOWING THE LIFTING OF MEASURES

INTENDED TO COOL DEVELOPMENT, 2018

WITNESSED MODEST GROWTH. WHILE

THIS IS EXPECTED TO BE SUSTAINED FOR

THE NEXT TWO YEARS THERE IS AN

UPWARD TREND IN BUILDING

INFORMATION MODELING (BIM)

In Singapore’s mixed and commercial development arenas, there has been

growth in the past year following to the lifting of cooling measures towards the end of 2017, resulting in a promising number of successful enblocs. This is translating into an increasing number of construction projects in the pipeline. The rest of the construction sector is also flourishing with the various ongoing infrastructure and rail projects, as well as a multitude of upcoming public ventures.

However, across the industry, the consensus is that these new developments can only sustain the construction sector for the next two years, which is a cause for concern for smaller companies at present. With fresh market-cooling measures being put into place in July 2018, there has been less optimism about the development of new properties.

Furthermore, the postponement of work on the Kuala Lumpur-Singapore High Speed Rail (HSR) line has led to a great deal of uncertainty amongst engineers who were specifically recruited for this project.

A LIMITED CANDIDATE POOL MAY

RESTRICT BIM GROWTH, AND

CANDIDATES MAY HAVE TO ACCEPT

REDUCED SALARIES

On the upside, there has been seen a general trend towards BIM becoming a staple for many projects in Singapore, with BIM submissions becoming an industry norm. However, the local candidate pool for BIM is still growing due to its relative newness and retraining candidates may pose a challenge.

In 2019, due to the limited opportunities available in the coming year, candidates operating in the private sector may have to be more willing to accept roles that are of a lower position and salary than that of their previous employment.

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CONSTRUCTION & ENGINEERINGCONSTRUCTION

CONSTRUCTION DEVELOPMENT

Development

Manager

Project

Manager

Business

Development

Manager

Business

Development

Director

Mainland China 400 - 800 400 - 800 300 - 800 800 - 1,200

Hong Kong 640 - 1,200 600 - 1080 540 - 830 1,100 +

Singapore N/A 115 - 170 120 - 180 N/A

CONSTRUCTION CIVIL Foreperson Site Engineer Project Engineer Design Manager Project Manager

Mainland China N/A 100 - 180 150 - 300 325 - 550 350 - 700

Hong Kong N/A 360 - 540 360 - 540 420 - 600 540 - 960

Singapore 50 - 80 60 - 75 65 - 90 100 - 140 105 - 150

Senior Project

Manager

Construction

Manager

Resident

Technical Offi cer Planner Estimator

Mainland China 400 - 800 240 - 550 N/A 150 - 350 150 - 450

Hong Kong 720 - 1,200 800 + N/A 480 - 840 600 - 960

Singapore 125 - 200 90 - 120 55 - 90 60 - 120 120 - 240

Contracts Administrator/

Quantity Surveyor - Entry-level


Quantity Surveyor - Senior

Mainland China 96 - 180 180 - 360

Hong Kong 240 - 360 360 - 600

Singapore 45 - 85 70 - 125


Quantity Surveyor - Entry-level


Quantity Surveyor - Senior

Mainland China 150 - 250 300 - 550

Hong Kong 240 - 360 420 - 840

Singapore 55 - 70 70 - 95

CONSTRUCTION BUILDING Foreperson Site Engineer

Project

Engineer

Design

Manager

Mainland China N/A 100 - 180 150 - 300 350 - 600

Hong Kong N/A 350 - 500 500 - 600 650 - 950

Singapore 55 - 75 60 - 75 70 - 90 100 - 125

HVAC Engineer MEP Engineer Healthcare Planner

Mainland China 120 - 300 150 - 350 N/A

Hong Kong 300 - 540 300 - 540 N/A

Singapore 50 - 85 65 - 90 N/A

Project Manager

Senior Project

Manager

Construction

Manager Planner Estimator

Mainland China 500 - 800 500 - 1,000 400 - 600 400 - 550 350 - 600

Hong Kong 600 - 840 720 - 1,000 720 - 1,200 480 - 830 390 - 840

Singapore 102 - 140 108 + 100 - 120 85 - 100 150 +


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CONSTRUCTION & ENGINEERINGENGINEERING

DESIGN CONSULTANCY

- BUILDING SERVICES

CAD Design

Drafter CAD Manager

Graduate

Design Engineer

Design

Engineer

Senior

Design Engineer


Hong Kong 216 - 240 350 - 530 192 - 270 288 - 420 420 - 660

Singapore 35 - 50 55 - 100 36 - 42 55 - 78 72 - 96

Principal

Design Engineer

Project

Manager

Associate/

Senior Associate

Principal/

Director

Resident

Engineer

Mainland China 370 - 550 300 - 600 550 - 900 900 - 1,200 300 - 550

Hong Kong 600 - 700 540 - 960 660 - 960 1,000 + 480 - 780

Singapore 100 + 75 - 108 120 - 180 180 + 84 - 120

DESIGN CONSULTANCY

- CIVIL & STRUCTURAL

CAD Design

Drafter CAD Manager

Graduate

Design Engineer

Design

Engineer

Senior

Design Engineer


Hong Kong 216 - 240 350 - 550 192 - 270 288 - 450 450 - 700

Singapore 35 - 50 55 - 100 36 - 42 55 - 78 72 - 96

Principal

Design Engineer

Project

Manager

Associate/

Senior Associate

Principal/

Director

Resident

Engineer

Mainland China 300 - 450 350 - 600 350 - 500 700 - 900 250 - 400

Hong Kong 600 - 800 540 - 960 660 - 960 1,000 + 480 - 780

Singapore 100 + 90 - 108 120 - 180 180 + 84 - 120

Source: South China Morning Post, October 2018

The scale of Asia’s construction output is outpacing the entire construction output of the US and Europe. Asia

Europe/US


MAINLAND CHINA

DEMAND FOR TALENT TO RISE EVEN

FURTHER IN 2019

After a year of great positivity, the outlook for Mainland China’s digital technology recruitment market is strong as we look ahead to 2019.

2018 was a good year for software engineering candidates, with demand for IT talent from all industries outstripping the supply by some distance. Predictions for 2019 is more of the same, plus competition expected for talent within AI, IoT and cybersecurity.

TRADITIONAL INDUSTRIES CATCH UP,

AND CODING BECOMES KEY

Investment in technology in Mainland China is set to increase, whereas we previously saw substantial augmentation in spending across the internet industry we are now beginning to see more traditional industries catch up and invest impressively in AI, IoT, blockchain and big data.

One of the biggest trends of 2018 was the rise of the full stack engineer, demand for which can be attributed to their diverse coding skills, a requirement that we firmly believe will become the new norm in the year ahead. With a short supply of talent in the market and rising salaries, organisations may prefer to invest in one full stack engineer rather than hire two or three regular engineers to perform the same job.

TECHNOLOGY TRANSFORMING LIVES,

AND ENTERING THE AGE OF AI AND

ROBOTICS

Focus in Mainland China has intensified in the building and creating of products that transform and impact people’s day-to-day lives. Traditional manufacturing companies are now investing heavily in innovation and starting to lead the way in autonomous vehicles, smart homes and robotics. These are all areas that are experiencing high demand for software engineering talent and will continue to do so in 2019.

If 2018 was the year of big data, then 2019 could well be the age of AI. AI is arguably the biggest technology trend of the moment, permeating through everything from e-commerce to healthcare to autonomous driving. Mainland China has

seen rise to a number of start-up automobile manufacturers such as Nio and Byton in recent years, and they are set to transform cars into next-generation smart devices.

Other areas where Mainland China appears to be making great progress is in robotics and organisations are finding creative ways to upgrade traditional manufacturing through automation. From automated coffee bars to robotic food transportation and delivery, this is an industry that will continue to demand skills in software development and UI/UX.

HONG KONG

THREE AREAS TO WATCH - CLOUD, DATA

INFRASTRUCTURE AND ADVANCED

ANALYTICS

Demand in Hong Kong’s digital technology space kicked into overdrive during 2018 and we expect the year ahead to see more of the same. As a result, there is a sizable gap in candidate demand, causing a sharp increase in salaries which will continue to rise through 2019.

The area with the largest demand growth through 2018 were in data scientist and advanced analytics roles. Hong Kong has experienced a transformation in this area, resulting in a shift in talent requirements. Traditionally, sought-after candidates were those with business intelligence and a Managment Information System (MIS) background, but now the market instead covets individuals with data science and machine learning experience. This skillset is difficult to locate in Hong Kong as most employers require candidates with at least a master’s degree in a quantitative field, although PhDs are preferable. Because of this gap in candidate supply many companies are open to foreign candidates.

CANDIDATE SHORTAGES LEAD

COMPANIES TO LOOK OVERSEAS

As more companies in Hong Kong moved to cloud solutions in 2018, demand in this space will continue to grow. The most sought-after candidates are those with PhDs in mathematics and more than two years of working experience, with technical experience outweighing industry experience. From a technical perspective, candidates who have a background in writing machine learning algorithms and

possess strong Python or R skills are most highly regarded. Because of this sharp increase in demand and an openness to finding candidates from overseas, the salaries in this space have seen a measurable increase, a state of affairs that is likely to continue into 2019.

Data has become an essential part of our daily lives, and having the proper data infrastructure helps to provide better insights, efficiency and productivity. Over the last year, Hong Kong has seen a tremendous growth in data infrastructure and advanced analytics.

DATA INFRASTRUCTURE ROLES ARE

EVOLVING AS ANALYTICS SALARIES RISE

Traditionally, companies looking to recruit for the data infrastructure space have hired database specialists. However, throughout 2018 we saw an immense demand for data engineers who not only manage the databases, but build also integrated data pipelines, data warehouses and cloud-based data-lakes. Their role plays a critical part in the design and implementation of ETL processes to enrich the growing data warehouse and cloud-based data lakes. Many Hong Kong companies are actively seeking data engineers with experience in prominent data technologies such as Hadoop, Spark, EMR, Pig and Mongo DB.

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“Hong Kong is experiencing a sizable gap in candidate demand.”


As more companies in Hong Kong are shifting to advanced analytics, the implementation of the correct foundations and infrastructure is essential. Data engineers are working closely with data scientists to provide processed, cleansed and verified data for analysis. Data scientists typically possess an important role in performing analysis with large data sets, collaborating with different business units in identifying their needs, defining analytical solutions and providing key insights.

The most challenging task would be the development of accurate propensity or predictive models through different methodologies, such as clustering or logistic regression. Again, candidates with excellent programming skills in Python and R and in possession of in-depth knowledge of machine learning are highly valued. Hong Kong companies will continue to look locally and overseas for this talent, and as the demand continues to grow, salaries are expected to rise in 2019.

JAPAN

FINTECH, APPLICATIONS AND

CYBERSECURITY BUILD ON IMPRESSIVE

GAINS

The past year was an excellent year for digital technology talent in Japan, and we expect to see the trend continue throughout 2019 in the areas of web and mobile engineers, web and mobile designers, AI specialists, cloud engineers, cybersecurity experts, big data architects and digital transformation consultants.

2018 saw the arrival of fintech as an industry of consequence, and with the coming of global blockchain entities competing with the emerging local fintech companies, the need for blockchain developers and cryptocurrency engineers has increased substantially. However, despite the demand for candidates, this should not translate into salary increases as the newfound popularity of the role is proving to be a draw for a great number of engineers interested in the burgeoning sector.

POPULARITY OF NASCENT AREAS IS

INHIBITING SALARIES DESPITE

CANDIDATE DEMAND

As was the case in 2018, the online video streaming and e-commerce industries are

continuing to push the demand for web and mobile application developers using Java, C#, Python, Swift, and Embedded C, as well as cloud engineers who are Amazon Web Services (AWS), Google Cloud Platform (GCP) and Azure specialists. Industries in which customer behaviour patterns are analysed will still drive the market for digital transformation consultants and big data specialists using Hadoop, Spark and NoSQL. However, as is the case within the fintech domain, due to the popularity of the sector demand will not be matched by increased salaries.

We expect to see in 2019’s cybersecurity sector a trend towards the recruitment of application security experts. With the ubiquity of apps in our day-to-day lives, companies understand the necessity for ensuring the security of their applications. Candidates with a strong knowledge of this area, as well as frameworks, attack methods, and mitigation best practices including OWASP, SANS and NIST will find that this is their year.

THE REALITY OF VR IS INCREASED

SALARIES FOR DEVELOPERS

In Japan, as it is around the world, virtual reality in the gaming industry is exploding, leading to certain salary increases for VR and unity developers and C# developers in particular. As has been the general trend, there will still be a need for UI/UX designers and UI/UX producers with a strong understanding of Japan’s game industry. Japanese gaming companies are willing to pay a premium for experienced, skilled and creative game designers.

MALAYSIA

ALTHOUGH NEW TECHNOLOGIES ARE

BEGINNING TO MAKE THEIR PRESENCE

FELT, TRADITIONAL LANGUAGES REMAIN

VERY MUCH KEY TO THE MARKET

Demand for functional SAP consultants has increased due to the rapidly changing technology and the introduction of new product portfolios. In addition, there is a rise in the adoption of S/4 HANA, which is in line with the industry-wide move towards cloud technology.

We are beginning to see an increment in the demand for newer technologies, especially in blockchain, big data and

cloud from the big players in the industry. This movement is stimulating the local talent market where candidates are learning and adopting these technologies. Typically, these individuals should expect an annual salary starting at RM84,000, with competitive salaries offered to experienced local talent.

ADOPTION OF NEWER PROGRAMMING

LANGUAGES IS ON THE RISE

Traditional programming languages, such as .NET & PHP, are still very much in the market. These skills will remain in demand for as long as the rest of the industry does not move forward in new technology adoption. However, newer back-end languages, such as Node JS, allow for more flexibility in coding and we are seeing an increasing adoption rate of these technologies in tech SMEs and some MNCs. In front-end development, we are seeing a rising trend in the utilisation of newer JavaScript libraries such as Express JS, React JS and Vue JS. Candidates with hands-on experience of these libraries in previous positions are in exceptionally high demand in Malaysia as more development houses are receiving new projects which require these skills.

Solid understanding of programming languages such as R, Python and MALLET is a must. Also, it is required that candidates have practical experience with tools such as Tensorflow and Dialogflow and have worked on projects with large data sets. Demand for talent is increasing, and experienced data scientists expect annual salary offers from RM120,000 and above. As businesses put ever-more emphasis on data benefits, we are expecting to see an increase in demand for this role.

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“Candidates with skills in traditional programming languages are still in fl avour in Malaysia.”


FOUNDATIONS IN STATISTICS,

HARDCORE CODING AND ALGORITHMIC

UNDERSTANDINGS PUT CANDIDATES AT

A STRONG ADVANTAGE

Big tech giants such as Microsoft and Alibaba have already invested much of their resources in AI research and are starting to roll out AI powered products for end customers. This means that job opportunities are available for individuals from hardcore programming backgrounds who use languages such as R, Python and C++ and have an understanding of complex data structures and algorithms. In addition, skills in MATLAB and Google AI tools such as Keras and Tensorflow give candidates an advantage, as does having a strong foundation in a statistical platform, meaning candidates with a PhD in Mathematics or Statistics will have an edge over their competitors. As AI is being enthusiastically embraced by Malaysian companies, not only will technical candidates be in demand, but research-level candidates who have spent considerable time undertaking R&D in AI use cases will also be highly coveted.

SINGAPORE

THE FURTHERANCE OF SINGAPORE AS

AN R&D HUB, COMBINED WITH

GOVERNMENTAL INVESTMENT, PUTS

GREATER CREDENCE TO ITS POSITIONING AS A PRIMARY PLAYER IN

ASIA’S DIGITAL TECHNOLOGY SCENE

As the government continues its transformation of Singapore into a leading digital-innovative economy, demand for relevant highly-skilled candidates is on the rise, and consequentially, salaries are following this upward trajectory. As a result, wage pressure is increasingly evident amongst employers, especially when recruiting experienced talent within data analytics, cybersecurity and the development of emerging technologies. Organisations are thus beginning to adjust salary benchmarks in order to remain competitive in the market and we expect this trend to continue in 2019. Conversely, companies slow to adopt these higher benchmarks will soon find it an increasing challenge to secure talent.

Singapore remains the primary regional R&D hub for many organisations as a number of innovation and digital labs emerge. Notable industries to take advantage of Singapore’s benefits in this area include life sciences and engineering, from which a number of companies are setting up their own ‘capability centre’ or ‘Centre of Excellence’ (CoE) environments.

We expect intense competition to continue in 2019 for the best talent across AI, data science, cybersecurity, IoT, and full stack development.

AI APPETITE ON THE RISE AS ONE THIRD

OF COMPANIES TO ADOPT WITHIN

TWO YEARS

2018 saw the announcement of National Research Foundation plans to invest up to SG$150 million in its ‘AI Singapore’ programme, an initiative aimed at boosting the nation’s artificial intelligence capabilities over the next five years. 35 per cent of organisations in Singapore have declared plans to adopt AI within two years, and there is no doubt that the market will ramp up its appetite for AI specialists skilled in the likes of natural language processing (NLP), computer vision, image diagnostics, predictive maintenance and robotics.

COMPANIES SEEK ‘UNICORNS’, BUT

MUST IMPROVE ATTRACTION

STRATEGIES

In line with business digitalisation, the demand for ‘unicorn’ developers with full stack and mobile development capabilities has been increasing significantly. Tool agnostic candidates who are technically versatile in emerging front-end programming and using HTML5, CSS3, Angular, Vue and React, and back-end languages such as Python, NodeJS and GO are very much in demand. If candidates are able to couple these skills with strong knowledge in MySQL and NoSQL databases, they can look forward to commanding premium salaries in 2019 and beyond.

2018 has shed light on the critical need for companies to find better ways to attract, nurture, and retain talent in this growing digital economy and ever-changing technological landscape. In 2019, we expect more companies to recognise this fact and to invest more heavily in strengthening candidate attraction strategies to ensure that their businesses can remain competitive in this talent-short market.

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Productivity 86%

Innovation 84%

Job creation 69%

Growth 90%

Data source: The Economist: AI, Automation and the future of jobs and skills and skills report

Over the next fi ve years, CEOs across Asia expect AI to have a positive impact on:

“Companies in Singapore will look to strengthen their candidate attraction strategies in 2019.”


NOTES


DIGITAL TECHNOLOGY

DEVELOPMENT/DESIGN

Full-Stack Developer

(Java/JavaScript)

Mobile Developer

(Java/JavaScript)

Server-side Developer

(Java/JavaScript)

Mainland China 400 - 650 300 - 500 300 - 600

Hong Kong 360 - 660 300 - 660 360 - 660

Japan 5 - 12 5 - 12 5 - 12

Malaysia 72 - 204 60 - 204 60 - 120

Singapore 70 - 120 60 - 100 70 - 100


(MS.Net/Objective C/Swift)

Mobile Developer



(MS.Net /Objective C/Swift)

Mainland China 350 - 550 300 - 500 300 - 600

Hong Kong 240 - 540 300 - 660 240 - 540

Japan 5 - 12 5 - 12 5 - 12

Malaysia 72 - 180 72 - 192 72 - 156

Singapore 70 - 120 60 - 100 70 - 100


(UI/UX/HTML/CSS)

Mobile Developer

(UI/UX/HTML/CSS)


(UI/UX/HTML/CSS)

Mainland China 400 - 600 300 - 500 300 - 600

Hong Kong 240 - 540 300 - 660 240 - 540

Japan 5 - 12 5 - 12 5 - 12

Malaysia 72 - 180 60 - 180 60 - 180

Singapore 70 - 120 60 - 100 70 - 100

Front-End Developer

(Java/JavaScript)

Web Designer

(Java/JavaScript)

Mainland China 350 - 550 250 - 500

Hong Kong 240 - 480 216 - 420

Japan 5 - 12 4 - 8

Malaysia 60 - 120 60 - 108

Singapore 70 - 100 60 - 100

Front-End Developer


Web Designer


Mainland China 300 - 500 250 - 400

Hong Kong 240 - 480 216 - 420

Japan 5 - 12 4 - 8

Malaysia 96 - 120 60 - 96

Singapore 70 - 100 60 - 100

Front-End Developer

(UI/UX/HTML/CSS)

Web Designer

(UI/UX/HTML/CSS)

Mainland China 300 - 500 250 - 400

Hong Kong 216 - 420 240 - 840

Japan 5 - 12 4 - 8

Malaysia 60 - 180 84 - 180

Singapore 70 - 100 60 - 100


NOTES


DIGITAL TECHNOLOGY

BIG DATA

Data Scientist

(Hadhoop/Scala/Scala)

Data Engineer


Business Intelligence


Mainland China 500 - 1,000 300 - 450 320 - 500

Hong Kong 480 - 780 480 - 780 480 - 780

Japan 8 - 12 6 - 11 8 - 15

Malaysia 120 - 276 120 - 216 120 - 216

Singapore 90 - 180 80 - 120 80 - 120

Data Scientist

(R/SQL/MS.Excel)

Data Engineer

(R/SQL/MS.Excel)

Business Intelligence

(R/SQL/MS.Excel)

Mainland China 450 - 800 250 - 450 300 - 500

Hong Kong 480 - 780 480 - 780 480 - 780

Japan 8 - 12 6 - 11 8 - 15

Malaysia 144 - 300 144 - 240 96 - 192

Singapore 90 - 180 80 - 120 80 - 120

CLOUD

Cloud Engineer

(AWS/Azure/GCP)

Cloud Architect

(AWS/Azure/GCP)

Cloud Consultant

(AWS/Azure/GCP)

Mainland China 300 - 500 500 - 700 350 - 480

Hong Kong 480 - 660 720 - 1,080 720 - 1,080

Japan 5 - 10 8 - 13 7 - 12

Malaysia 120 - 216 180 - 300 180 - 300

Singapore 80 - 120 90 - 180 90 - 150

Cloud Engineer

(Lambda)

Cloud Architect

(Lambda)

Cloud Consultant

(Lambda)

Mainland China 300 - 400 500 - 700 350 - 450

Hong Kong 480 - 660 720 - 1,080 720 - 1,080

Japan 5 - 10 8 - 12 7 - 12

Malaysia 120 - 216 180 - 300 180 - 300

Singapore 80 - 120 90 - 180 90 - 150

IOT

Solution Architect - IOT

(Predix/HCP IoT/

ThingWorx/Azure)

IOT Engineer

(Predix/HCP IoT/

ThingWorx/Azure)

Engineer - IOT Innovation

(Predix/HCP IoT/

ThingWorx/Azure)

Mainland China 600 - 900 300 - 500 350 - 450

Hong Kong 720 - 1,080 480 - 660 480 - 660

Japan 8 - 13 5 - 8 5 - 8

Malaysia 240 - 384 168-264 180 - 360

Singapore 90 - 180 80 - 120 90 - 150


NOTES


DIGITAL TECHNOLOGY

CYBERSECURITY

Digital Forensics

(EnCase/Blacklight/

Wireshark)

Incident Respond

Specialist

(EnCase/Blacklight/

Wireshark)

Cybersecurity

Consultant

(EnCase/Blacklight/

Wireshark)

Malware Reverse

Engineer

(EnCase/Blacklight/

Wireshark)

Mainland China 300 - 480 280 - 450 400 - 600 300 - 450

Hong Kong 360 - 720 600 - 1,200 360 - 1,200 360 - 720

Japan 8 - 14 10 - 15 8 - 13 8 - 13

Malaysia 144 - 228 96 - 180 120 - 180 144 - 228

Singapore 100 - 180 110 - 150 90 - 120 120 - 150

Digital Forensics

(Blackduck)

Incident Respond

Specialist

(Blackduck)

Cybersecurity

Consultant

(Blackduck)

Malware Reverse

Engineer

(Blackduck)

Mainland China 300 - 450 250 - 350 350 - 500 300 - 450

Hong Kong 320 - 640 540 - 1,080 780 - 1,080 480 - 720

Japan 8 - 14 10 - 15 8 - 13 8 - 13

Malaysia 144 - 228 96 - 180 144 - 216 144 - 228

Singapore 100 - 180 110 - 150 90 - 120 120 - 150

AI

AI Developer

(Java/C/C++/Python)

AI Global Solution

Architect

(Java/C/C++/Python)

Deep Learning

Project Manager

(Java/C/C++/Python)

Mainland China 350 - 800 500 - 900 450 - 850

Hong Kong 720 - 1,020 960 - 1,080 900 - 1,320

Japan 6 - 12 9 - 13 8 - 12

Malaysia 96 - 192 180 - 360 180 - 360

Singapore 80 - 120 140 - 200 120 - 160

AI Developer

(Math/Vectors/Matrices/

Linear Algebra)

AI Global Solution

Architect


Linear Algebra)

Deep Learning

Project Manager


Linear Algebra)

Mainland China 350 - 800 500 - 900 450 - 850

Hong Kong 420 - 840 300 - 900 1,200 - 3,600

Japan 6 - 12 9 - 13 8 - 12

Malaysia 144 - 216 180 - 360 180 - 360

Singapore 80 - 120 140 - 200 120 - 160


NOTES

• Salaries are represented in local currency • Salaries are representative of the base salary only

MAINLAND CHINA

HUGE EXPANSION IN A WIDE ARRAY OF

AREAS IS SEEING MAINLAND CHINA’S

EDUCATION SECTOR SCALE LEVELS OF

GROWTH LIKE NEVER BEFORE

In light of Mainland China’s new education development plan, the education job market will continue to see remarkable growth in 2019 as the industry’s development reaches new heights. The market is stepping into a new phase of quality improvement, curriculum structure optimisation and educational equity.

The overseas study consulting services sector is also experiencing exponential growth. While the number of students pursuing university degree programmes remains high, there has also been an upward trend in student placements at the elementary and high-school level. In Mainland China, parents have been looking to enrol children in overseas study programmes at increasingly younger ages.

CANDIDATES WITH OVERSEAS

EXPERIENCE COVETED

The quality of higher education in Mainland China continues to improve, with local universities bidding to enhance their standings as world-class institutions and education providers. As a consequence, candidates with exposure to the international education sector and in possession of higher education management skills are very much sought after. We are also seeing talent demand in non-first-tier provinces, which are emerging markets for vocational and professional education.

Meanwhile, there has been an influx of foreign K-12 brands entering Mainland China, boosting both international and bilingual school development. This has resulted in an upturn in demand for candidates to fill roles in marketing and admissions, student enrolment, curriculum development as well as business development in order to identify new opportunities for investment funding.

The education training sector is flourishing with openings for experts in sales, marketing, operations and academic development. Curriculum experts specialised in K-12 extracurricular activities, language training, and science, technology, engineering, arts and mathematics (STEAM) subjects make for popular candidates in 2019.

CANDIDATES IN A NUMBER OF AREAS

REQUIRED TO REACH TARGET

AUDIENCES

With AI and VR technology rampant in the education sphere, online education employers will be on the lookout for candidates with specific skillsets in a number of areas: sales conversion, leads and traffic management, user experience, loyalty and retention rate improvement, as well as social media and content development.

Publishing houses, especially those which are foreign-operated, are also seeking candidates with expertise in co-branding partnership, content rights and licensing management.

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INTERNATIONAL & BILINGUAL K-12

& MONTESSORI SCHOOLS

Subject

Teacher/

Head Teacher

Academic

Director

Admissions

& Marketing

Mgr/Director

Operations

Director/

Bursar

School

Headmaster/

Principal

Mainland China 264 - 360 336 - 420 350 - 650 540 - 800 1,000 - 1,800

PUBLISHING HOUSES

ELT Teacher

Trainer Chief Editor

Territory Sales

/Account Mgr

Publishing

Manager

Licensing

Manager

General

Manager

Mainland China 280 - 420 750 - 900 200 - 350 400 - 600 400 - 600 600 - 1,000

EDUCATION SERVICE PROVIDERS

Admissions/

Recruitment

Manager

Director

of Sales &

Marketing

Account/BD

Manager

Marketing

Manager/

Director

Curriculum/

Product

Development

Regional

Heads

Mainland China 240 - 400 750 - 1200 250 - 900 300 - 800 400 - 800 800 - 1,200

UNIVERSITY/BUSINESS SCHOOLS

Executive

Director/

Dean

Career

Development

Mgr/Director

Marketing

Mgr/Director

University

Representatives

Program

Mgr/Director

Student

Administration

Mgr/Director

Mainland China 1,000 - 1,500 300 - 600 240 - 650 500 - 850 300 - 600 200 - 450

PROFESSIONAL TRAINING CENTRES

Centre

Director

Regional

Director

Business

Development

Manager

Marketing

Mgr/Director

Student

Services

Mgr/Director

Vice President/

General

Manager

Mainland China 300 - 500 600 - 1,000 300 - 700 400 - 1,000 200 - 400 800 - 1,500


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MAINLAND CHINA

WITH A MULTITUDE OF FACTORS

AFFECTING THE RECRUITMENT MARKET,

CANDIDATES WITH BLOCKCHAIN

EXPERIENCE ARE OF INCREASING VALUE

The sustained high demand for candidates in Mainland China’s finance technology sector in 2018 is expected to continue right through the coming year. There are a number of factors influencing the recruitment market, with chief amongst them the domestic economy, the rise of internet finance and the introduction of new government regulations for financial institutions.

While traditional financial firms — both domestic and international — expect to recruit experienced talent with proven records to facilitate the launch of new applications, local fast-growing internet finance companies and fintech start-ups are moving quickly to take the lead in this niche market.

SOFTWARE AND DATA AREAS ARE

TALENT SHORT, WHILE P2P CANDIDATES

LOOK TO SECURITY OR ELSEWHERE

Candidates with skills in Java, C++, mobile development, algorithms and data are still in great demand, and seeing ‘blockchain’ on a candidate’s CV is considered a distinct advantage. Specific job roles available are likely to be for software developers, algorithm engineers, data architects, data analysts and data scientists, to name but a few. There is no doubt that the newly-created vacancies will far exceed the existing talent pool.

Owing to the bursting of the P2P market bubble, some candidates are more willing to explore outside of the field, while others may be cautious when considering P2P-relevant job opportunities. As a result, talent may be more favourable towards positions at traditional banks, due to their strong funding and more stable and scalable business models, particularly regarding innovation projects.

SALARY NO LONGER A KEY CANDIDATE

CONCERN

While candidates will always take salary and benefits packages as a primary concern when switching jobs, in 2019 we will see more consideration of a company’s growth potential as well as the

career development opportunities they provide. Also of greater relevance is how candidates evaluate the long-term development of a company and the riskiness of its business model.

HONG KONG

FINANCIAL TECHNOLOGY RECRUITMENT

REMAINS STRONG ACROSS BOTH

TRADITIONAL MULTINATIONAL

FINANCIAL INSTITUTIONS AND FINTECH

START-UPS

The hiring of application development candidates increased significantly in 2018 and we expect the demand to remain strong in 2019. For banking firms, projects to enhance front office trading systems continue to be a primary objective, whilst projects in middle and back offices are being driven by new regulatory requirements, with several major insurance firms still in the midst of IT transformation programmes. The demand from fintech start-ups for high-calibre talent with expertise in digital payment systems, digital asset management, blockchain and cryptocurrency continues apace, and we expect qualified candidates to command higher salaries in 2019.

START-UPS HOLD AN ADVANTAGE OVER

MORE TRADITIONAL INSTITUTIONS

Due to the shortage of local qualified candidates in the current fintech space, both banks and start-ups have been more flexible in relocating superlative candidates from overseas. However, in this talent-short market, traditional banks are at a substantial disadvantage due to their longer interview processes, less-flexible working environments and packages that lack the stock options and equity as offered by start-ups.

RECRUITING COMPANIES MUST IMPROVE

ATTRACTION CREATIVITY

Candidates with an IT security background are also in high demand, as firms set cybersecurity as a high priority. IT audit candidates are also in short supply, and we are seeing companies compete for the same candidates, creating upward pressure on salaries as well as highlighting the need for employers to be more creative when recruiting.

Data scientists, data analysts, data modellers and big data-related candidates are also expected to remain in strong demand over the coming year.

JAPAN

COMPETITION IS DRIVING UP SALARIES

FOR EXPERIENCED AND JUNIOR

CANDIDATES ALIKE

2019 is looking like being another active year of hiring in the finance technology space, and as was the case in 2018, the year ahead will continue to see recruitment demands from investment banks in both technical and non-technical areas.

Hiring for front office and middle office trading application developers, mainly with C++ or Java skills, will be active as banks compete with each other to develop the fastest and most reliable trading applications on the market. This contest is driving up salaries for experienced industry veterans, while some banks are also hiring junior candidates with future potential — those who have strong technical skills but lack industry experience — at higher salaries than what other industries can offer.

CLOUD, AUTOMATION AND APPLICATION

SUPPORT TO BE IMPORTANT AREAS OF

RECRUITMENT

Investment banks will be looking to recruit IT business analysts and IT project managers in non-technical positions for a range of projects likely to happen this year. These include increased automation, new cloud-hosted services, implementation and integration of vendor systems and customisation of global systems for Japan use. It will be a busy year and candidates with experience in these projects are likely to see salary increases.

FINANCE TECHNOLOGY

“Candidates from overseas have been recruited for roles in banks and start-ups in Hong Kong.”


In other areas, hiring for application support and infrastructure engineering roles — including network engineers, Unix/Linux server engineers, desktop support and engineers — are likely to remain active in 2019 across insurance, FT vendor, asset and investment management, and investment banking industries. Salaries are likely to remain similar to 2018 levels.

COMPANIES TO TAKE INCREASING NOTE

OF GOVERNANCE AT HOME AND

ABROAD

Another sector that was active in 2018 and is likely to see enhanced hiring demands in 2019 is the IT governance space. Recruitment at insurance firms and investment banks is likely to increase for job functions such as IT auditor, IT security manager, and IT risk and control officer. These needs are being driven by increased regulatory oversight from the Japan Financial Services Agency (JFSA), as well as the desire for companies to keep Japan offices in line with high compliance standards used in other regions of their global businesses. Candidates with these skillsets will therefore see many opportunities in the market this year and likely receive salary increases if they decide to move.

MALAYSIA

FINTECH, DIGITALISATION,

CYBERSECURITY AND AUTOMATION THE

MAIN TRENDS IN MALAYSIA’S

DIVERSIFYING FINANCE TECHNOLOGY

INDUSTRY

2018 was an interesting period of growth for Malaysia’s fintech space. Bank Negara Malaysia has historically taken an open but cautious approach in the regulation of the sector, while offering encouragement through the release of proposed guidelines for open APIs and the regulation of payment and crowdfunding frameworks.

We foresee substantial growth potential for fintech in Malaysia, driven by new technology innovations and regulatory change. This is expected to create more job opportunities in the mobile and web development, emerging technologies and data analytics sectors.

Undoubtedly, the main trend of 2019 will be the increasing digitisation and automation of the financial services industry. We have observed increasing needs for automation within operations and processes, with more robotics deployed as cost saving measures meaning that Robotic Process Automation (RPA) developers are currently very much in demand.

CLOUD COMES TO THE FORE, BUT OLDER

TECHNOLOGIES REMAIN

Elsewhere, there has been a pronounced increase in demand for network engineers with experience in software defined network (SDN) as companies strive to improve network agility and flexibility. In addition, increased usage of cloud technology — especially private cloud within the FSI — has allowed reliance on open-source technologies within larger organisations. However, candidates with skills in certain older technologies that are required to maintain legacy systems, such as Cobol, DB2

and Mainframe, remain necessary due to a critically low candidate supply.

With the increase of digital products usage within financial services, cybersecurity is a high priority for all firms. We expect more organisations to focus their attention on the strengthening of capabilities across cybersecurity operation centres (CSOC), security threat monitoring and technology risk.

COMPETITION FOR CANDIDATES IS HIGH

AS EMPLOYERS INCREASINGLY

PRIORITISE TECHNOLOGY EXPOSURE

Meanwhile, data scientists, data modellers and big data-related candidates are also expected to remain in strong demand over the coming year. This is resulting in higher salary demands.

Hiring activity across the industry will be competitive amongst traditional, digital banks and fintech start-ups. Salary will be a major determinant for candidates considering a move, however some candidates equally value both career progression and the exposure to technology that a company is able to provide.

SINGAPORE

ENTREPRENEURIAL SPIRIT IS BEING

ENCOURAGED

The Singapore government has continued its provision of substantial support to local talent and entrepreneurs, while pushing gender diversity issues to the forefront. 2018’s first and third quarters saw significant demand for trading floor coders in such numbers that it is unthinkable that the trend will not continue into the coming year, particularly as incoming MAS guidelines mean that there is a number of transformation projects in the pipeline.

Elsewhere, as a result of recent cyberattacks in Singapore and across the APAC region, cybersecurity, threat management, forensic and network security are also high-demand specialisms. In addition, with the adoption of new technologies comes new potential risk factors, and information security and privacy are high priorities in financial services, with end-to-end encryption catered for by fintech organisations.

DISRUPTIVE TECHNOLOGY BRINGS

DEMAND AND INNOVATION

As traditional financial services firms look to include new banking and payment options such as blockchain and cryptocurrencies to their services, they are expanding continuous effort and providing greater budgets to fintech departments in order to match the speed of new technological disruptions.

With the advent and rise of innovation labs, there is a high demand for skilled candidates who are able to showcase their new and creative ideas, creating a necessity for both local and foreign talent for projects.

FINTECH ON THE TRADING FLOOR NO

LONGER THE PRESERVE OF THE BIG

HITTERS

Fintech now is no longer a mere buzzword and is instead becoming an industry norm, whether it originates in asset

management, private equity, capital markets, banks or insurance companies. In fact, it has grown in such prominence that there is a number of small SME and robo-advisory companies that now provide effective and precise trading floor services with market connectivity across APAC and the global market.

Through these developments, we can see how the Singapore market is on a slow but steady period of growth, particularly for long-term entrepreneurs who are likely to see marginal year-on-year increments of four to five per cent.

“Jobs are being created in Malaysia thanks to new technology innovations and regulatory change.”

FINANCE TECHNOLOGY

SALA

RY IN

FOR

MAT

ION

: FIN

AN

CE

TE

CH

NO

LO

GY


NOTES

Source: www.unescap.org

The UN’s Economic and Social Commission for APAC has put in place measures that will enable 20,000 women entrepreneurs in the region to have access to

emerging fi ntech solutions.


FINANCE TECHNOLOGY

MANAGEMENT

Infrastructure

Manager

Development

Manager IT Director CIO

Mainland China 400 - 800 600 - 900 800 - 1,800 1,200 - 2,500

Hong Kong 1,100 - 1,800 1,100 - 1,800 1,200 - 2,000 1,500 - 3,200

Japan 15 - 20 15 - 20 20 - 40 25 - 80

Malaysia 162 - 222 150 - 310 250 - 540 480 - 780

Singapore 150 - 300 150 - 300 200 - 400 350 - 600

SUPPORT FUNCTIONS

Application

Support Team Leader

FIX Connectivity

Support

Market Data

Engineer

Application

Support Manager

Mainland China 250 - 450 400 - 600 200 - 400 350 - 650 600 - 800

Hong Kong 520 - 760 660 - 900 520 - 850 480 - 780 700 - 1,000

Japan 8 - 12 14 - 16 8 - 14 8 - 12 15 - 20

Malaysia 80 - 120 96 - 192 120 - 200 160 - 300 120 - 240

Singapore 60 - 120 115 - 260 100 - 180 100 - 200 120 - 260

OTHER

Quantitative

Analyst

IT Security/

IT Risk IT Audit BCP Manager

Mainland China 400 - 600 420 - 750 400 - 700 400 - 700

Hong Kong 720 - 1,500 600 - 1,000 570 - 900 800 - 1,000

Japan 15 - 25 12 - 20 13 - 20 12 - 20

Malaysia 150 - 240 144 - 480 120 - 240 120 - 180

Singapore 100 - 250 100 - 350 80 - 360 100 - 300

Project

Co-ordinators/PMO

Service

Delivery Manager Tester Test Manager

Mainland China 250 - 500 450 - 750 250 - 350 400 - 600

Hong Kong 550 - 820 750 - 1,160 450 - 780 720 - 1,200

Japan 6 - 10 12 - 18 8 - 14 12 - 20

Malaysia 120 - 180 120 - 216 80 - 192 120 - 240

Singapore 80 - 130 120 - 220 84 - 150 150 - 250

To meet the fast-growing demand for talent recruitment in Shenzhen, we moved to the China Resources Tower building in the heart of the Shenzhen Bay tech district in 2018.


NOTES


FINANCE TECHNOLOGYBUSINESS ANALYSTS

CASH

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP

Senior Associate VP ED MD

Mainland China 250 - 380 400 - 600 550 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 330 - 550 600 - 950 920 - 1,500 1,200 - 2,000 2,000 - 2,800

Japan 8 - 12 12 - 16 16 - 20 20 - 35 35 +

Malaysia 60 - 90 100 - 180 170 - 240 N/A N/A

Singapore 84 - 110 110 - 150 130 - 220 N/A N/A

DERIVATIVES

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 250 - 380 400 - 500 550 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 350 - 650 750 - 1,200 1,000 - 1,500 1,500 - 2,000 2,000 - 3,200

Japan 8 - 12 12 - 16 16 - 20 20 - 35 35 +

Malaysia 60 - 90 100 - 180 170 - 240 N/A N/A

Singapore 90 - 120 120 - 160 140 - 200 N/A N/A

ELECTRONIC TRADING

Non-Offi cer

(Associate)

AVP


Mainland China 250 - 380 400 - 500 550 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 600 - 860 720 - 1,200 1,000 - 1,500 1,600 - 2,200 2,200 - 3,600

Japan 8 - 12 12 - 16 16 - 20 20 - 35 35 +

Malaysia 96 - 144 130 - 192 168 - 240 N/A N/A

Singapore 90 - 120 120 - 150 150 - 240 N/A N/A


NOTES

FINANCE TECHNOLOGYPROJECT MANAGEMENT


CASH

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 520 - 650 700 - 1,000 1,000 - 1,500 1,500 - 2,200 2,200 - 2,800

Japan 8 - 12 12 - 16 16 - 22 22 - 40 40 +

Malaysia N/A 100 - 168 144 - 264 240 - 336 320 +

Singapore N/A 102 - 140 140 - 200 240 - 280 300 +

DERIVATIVES

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 520 - 800 650 - 1,000 1,000 - 1,500 1,500 - 2,200 2,200 - 2,800

Japan 8 - 12 12 - 16 16 - 22 22 - 40 40 +

Malaysia N/A 100 - 168 144 - 264 240 - 336 320 +

Singapore N/A 102 - 140 150 - 200 240 - 300 300 +

ELECTRONIC TRADING

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 600 - 860 720 - 1,200 1,000 - 1,500 1,500 - 2,200 2,200 - 3,600

Japan 8 - 12 12 - 16 16 - 22 22 - 40 40 +

Malaysia N/A 140 - 170 180 - 300 240 - 336 350 +

Singapore N/A 110 - 150 160 - 250 250 - 400 400 +


NOTES


FINANCE TECHNOLOGYJAVA

CASH

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 200 - 350 300 - 450 500 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 420 - 650 700 - 1,000 900 - 1,500 1,500 - 2,000 2,000 +

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 70 - 100 90 - 160 160 - 220 220 - 350 300 +

Singapore 60 - 80 90 - 140 175 - 220 220 - 300 280 +

DERIVATIVES

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 450 - 680 700 - 1,000 920 - 1,500 1,500 - 2,000 2,000 +

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 80 - 100 90 - 160 160 - 220 220 - 330 320 +

Singapore 70 - 90 110 - 140 175 - 220 220 - 300 280 +

ELECTRONIC TRADING

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 500 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 450 - 670 700 - 1,000 950 - 1,500 1,500 - 2,000 2,000 +

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 80 - 100 110 - 150 160 - 240 240 - 320 320 +

Singapore 80 - 100 100 - 140 175 - 220 220 - 300 280 +


NOTES


FINANCE TECHNOLOGYC++

EXCEL/VBA/RAD

CASH

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 220 - 350 300 - 450 450 - 1,100 1,000 - 1,300 1,300 - 1,800

Hong Kong 420 - 800 600 - 1,000 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 70 - 90 90 - 160 150 - 220 220 - 320 300 +

Singapore 70 - 84 90 - 130 160 - 220 220 - 300 280 +

DERIVATIVES

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 420 - 800 750 - 1,200 1,000 - 1,500 1,500 - 1,850 1,800 - 2,000

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 80 - 100 90 - 160 160 - 220 220 - 330 320 +

Singapore 70 - 90 90 - 140 150 - 220 220 - 300 280 +

ELECTRONIC TRADING

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 420 - 800 750 - 1,200 1,000 - 1,500 1,500 - 1,850 1,800 - 2,000

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 90 - 110 110 - 150 160 - 250 240 - 330 320 +

Singapore 80 - 100 100 - 140 175 - 220 220 - 300 280 +

DERIVATIVES

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 450 - 700 850 - 1,000 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 80 - 110 110 - 150 160 - 230 240 - 360 N/A

Singapore 60 - 90 90 - 150 150 - 220 220 - 300 N/A


NOTES

FINANCE TECHNOLOGYC#


MAINFRAME, AS/400

ETL INFORMATICA, ORACLE PL/SQL, RDMS, DATA WAREHOUSE, SAS

CASH

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 350 - 500 500 - 750 1,000 - 1,300 1,300 - 1,600

Hong Kong 450 - 750 850 - 1,200 1,000 - 1,500 1,500 - 1,800 1,800 +

Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +

Malaysia 70 - 100 90 - 160 150 - 230 230 - 320 320 +

Singapore 60 - 90 90 - 135 140 - 220 220 - 300 300 +

COBOL

Non-Offi cer

(Associate)

AVP

Senior Associate VP

Malaysia 70 - 90 100 - 150 150 - 240

BUSINESS INTELLIGENCE

Non-Offi cer

(Associate)

AVP

Senior Associate VP

Japan 6 - 10 10 - 16 16 - 20

Malaysia 72 - 108 100 - 168 150 - 240

DERIVATIVES

(ALL ASSET CLASSES)

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 800 1,000 - 1,300 1,300 - 1,600

Hong Kong 450 - 750 850 - 1,200 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000

Japan 8 - 12 12 - 16 16 - 20 20 - 50 45 +

Malaysia 80 - 100 90 - 160 150 - 230 230 - 320 320 +

Singapore 70 - 90 90 - 135 140 - 220 220 - 300 300 +

ELECTRONIC TRADING

Non-Offi cer

(Associate)

AVP


Mainland China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600

Hong Kong 450 - 750 850 - 1,200 1,000 - 1,500 1,500 - 1,800 1,800 +

Japan 8 - 12 12 - 16 16 - 20 20 - 50 45 +

Malaysia 90 - 120 110 - 160 170 - 240 240 - 350 350 +

Singapore 80 - 100 100 - 140 150 - 220 220 - 300 300 +


NOTES


FINANCE TECHNOLOGYINSURANCE

APPLICATION DEVELOPMENT

- FRONT OFFICE

C++/Java/

C# Developer

Excel/Visual

Basic

Developer

Database

Developer

Application

Architect/

Lead

Developer

Development

Manager

Main Frame

Developer

Japan 8 - 14 8 - 14 6 - 14 10 - 16 14 - 20 7 - 12

Malaysia 60 - 144 60 - 120 72 - 108 144 - 240 144 - 180 72 - 144

APPLICATION DEVELOPMENT

- MIDDLE/BACK OFFICE

C++/Java/

C# Developer

Excel/Visual

Basic

Developer

Database

Developer

Application

Architect/

Lead

Developer

Development

Manager

Main Frame

Developer

Japan 6 - 12 6 - 12 6 - 12 10 - 15 14 - 20 7 - 12

Malaysia 60 - 144 60 - 120 60 - 120 144 - 240 144 - 216 72 - 144

APPLICATION SUPPORT

- FRONT OFFICE

Application

Support Team Leader Manager

Japan 6 - 8 10 - 14 12 - 16

Malaysia 48 - 108 84 - 144 132 - 192

APPLICATION SUPPORT

- MIDDLE/BACK OFFICE

Application

Support Team Leader Manager

Japan 6 - 8 10 - 14 12 - 16

Malaysia 48 - 108 84 - 144 140 - 192

OTHERS

Business

Analyst

(Front Offi ce)

Business

Analyst

(Back Offi ce)

IT Security/IT

Risk IT Audit BCP Manager

Japan 7 - 13 10 - 18 10 - 18 10 - 18 10 - 18

Malaysia 96 - 144 96 - 144 144 - 480 120 - 240 120 - 180

Project

Manager

(Front Offi ce)

Project

Manager

(Back Offi ce)

Program

Manager

Project

Co-ordinators/

PMO

Service

Delivery

Manager Test Manager

Japan 7 - 15 10 - 18 12 - 25 6 - 12 10 - 20 10 - 25

Malaysia 120 - 192 120 - 192 180 - 240 72 - 108 144 - 240 120 - 240

MANAGEMENTInfrastructure

Manager

Development

Manager -

Front Offi ce

Development

Manager -

Middle/Back IT Director CIO

Application

Support

Manager

Japan 10 - 16 15 - 25 15 - 20 25 - 70 40 - 80 15 - 25

Malaysia 150 - 240 120 - 240 120 - 240 300 - 540 420 - 840 144 - 240


SALA

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FOR

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: HU

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MAINLAND CHINA

FERVENT RECRUITMENT ACTIVITY

CONTINUES AS LOCAL COMPANIES

EXPAND, GROW HR FUNCTIONS AND

BATTLE TO RETAIN KEY TALENT

2018 bore witness to a considerable upsurge in the recruitment of human resources professionals due to accelerated growth in the technological streamlining of HR functions in Mainland China. In addition, a general trend of companies addressing a requirement for middle to senior-level talents in general HR, talent acquisition, and compensation and benefits positions emerged.

CHEMISTRY WITH PROSPECTIVE LINE

MANAGERS INCREASINGLY IMPORTANT

FOR CANDIDATES

In 2019 we will see continued demand for experienced HR Specialists — such as HR business partners (HRBPs), HR generalists and compensation and benefits specialists — driven by both local companies and MNCs, specifically in order to retain key talent and develop HR functions. As a result, employers are willing to offer attractive salary packages to secure capable talent in this candidate short market. Compensation aside, candidates will take into consideration other aspects of job offers such as industry type, responsibilities, and chemistry with a prospective line manager.

CHINESE FORAYS OVERSEAS MEAN

CANDIDATES WITH MNC EXPERIENCE

ARE COVETED

Due to the ever-expanding global footprints of Chinese corporations, competition for talent will be severe, as once highly desirable MNCs become increasingly superseded by local giants as the workplace of choice.

We can expect favourable hiring activity to continue throughout 2019 as local companies look to develop their business and operations outside of Mainland China, and candidates who have worked for MNCs abroad will be considered highly attractive.

With continued structural changes within organisations, we expect demand for HR professionals to swell in Mainland China in the coming year.

HONG KONG

MORE EMPHASIS ON TECHNOLOGY WITH

CHINESE EXPANSION INTO HONG KONG

RAISING REQUIREMENT FOR

BILINGUALISM

Due to the increasing number of Chinese businesses infiltrating the Hong Kong market, and accelerating growth in technology and business activities, 2018 saw wide-ranging activity in the hiring of HR professionals. This activeness will persist through 2019 as organisations continue to pursue talent in a number of areas, with HRBPs, talent and learning as well as compensation and benefits specialists particularly sought-after.

DIGITAL TRANSFORMATION IS ALL THE

RAGE

From MNCs driving digital transformation to start-up firms specialising in financial technology, businesses are placing a greater emphasis on technology. HR advisory is especially required by business leaders in order to develop highly technological and specialised teams. HRBPs or HR generalists with transformation and change management expertise are therefore likely to be in great demand in the coming year.

In addition, specialists in compensation and benefits and talent management remain sought after, and as salaries stay competitive in this talent-short market, employers are offering enticing packages in order to acquire candidates in these areas, a trend that is highly likely to continue in 2019.

As Chinese organisations continue to expand rapidly throughout Hong Kong, employers prefer HR talent with bilingual capabilities as well as exposure to Chinese culture. Candidates who possess an acute understanding of a company’s business, a strong commercial acumen, and the ability to influence key stakeholders usually hold an advantage.

OFFERS OF FLEXITIME AND

RESPONSIBILITIES UNDER CANDIDATE

CONSIDERATION

Across the industry salaries are increasing gradually while other benefits such as allowances and flexible hours do likewise, as companies look to attract and retain

talent. Candidates receiving offers will generally consider the overall package — including monetary reward, job scope and responsibilities — but remain open to negotiation before making final decisions about their offer acceptance.

JAPAN

THE YEAR AHEAD WILL BE TYPIFIED BY

MORE JUNIOR-LEVEL HIRING AND A

SHIFT TOWARDS DIRECT SOURCING

Recruitment activity for HR roles remained relatively stable throughout 2018. While there was a strong emphasis on replacement positions across all levels, companies also saw slight increases in the number of new headcounts throughout the year.

In particular, talent acquisition, HRBP and HR operation positions were in high demand in 2018, as organisations shifted towards direct sourcing and were willing to offer competitive packages to obtain the best talent, especially for HRBP roles based in rural areas.

JUNIOR CANDIDATES TO HAVE GREATER

POWER IN NEGOTIATION

Interestingly, organisations have proved more open to hiring candidates who are young, intellectual and logical but have more potential than those with HR experience, although they remain strict when it comes to educational backgrounds. This creates more competition and affords junior candidates in the market higher bargaining power.

We have seen a number of start-up organisations in the IT and service industries enter the Japan market, many seeking talent acquisition specialists or stand-alone HR generalists and managers. Proactive, business-savvy and influential professionals are required to communicate with international teams.

Overall, in Japan’s candidate-short HR market there is also an increasing need for efficient interview processes as well as competitive packages which include flexitime and work-from-home schemes.

HUMAN RESOURCES


SALA

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FOR

MAT

ION

: HU

MA

N R

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OU

RC

ES

MALAYSIA

THE EXPECTATION OF A DIGITAL

EXPLOSION IS PROMPTING COMPANIES

TO UPSKILL EMPLOYEES

As in previous years, in 2019 we will not see organisations offering significant salary increments to HR professionals. As a result, HR jobseekers will need to be flexible in terms of salary expectations.

Be that as it may, due to the increasing need for companies to future-proof their workforce in the face of Malaysia’s digital boom, we foresee a high demand for learning and talent management specialists across various industries.

FINANCIAL SERVICES AND FMCG

SECTORS SEEKING HR ANALYTICS

CANDIDATES

HR analytics professionals are also highly sought after, and companies are on the lookout for individuals who are capable of driving HR data analytics initiatives and utilising data to make insightful predictions, a trend that is most apparent in the financial services and FMCG sectors.

In addition, there is a proliferation of major MNC SSCs based in Malaysia. Seasoned HR professionals who have experience in setting up SSCs with multiple functions from scratch are a rare find and much coveted by employers.

START-UPS PURSUING BUSINESS

CONSULTING TALENT THWARTED BY

BUDGETARY RESTRAINTS

SMEs in Malaysia, on the other hand, are looking for HRBPs who are hands-on in internal processes. While these businesses value conceptual thinking and commercially-minded individuals, most of these teams are lean therefore requiring employees to be involved in day-to-day operations, a situation which may contrast with larger organisations. Many companies in the start-up space prefer candidates from business consulting backgrounds, but often do not have the salary budget required for individuals with the necessary extensive experience.

SINGAPORE

WITH A MARKET UPSURGE ON THE WAY,

2019 IS LOOKING POSITIVE FOR TALENT

ACQUISITION ROLES

2018 saw spurts of recruitment activity from a variety of market sectors at differing times throughout the year. The commerce

and industry sector generally took the lead although the recruitment process and time to hire has lengthened significantly in response to a larger pool of candidates and hiring managers taking their time to find the right person for their vacancies.

The banking and finance sector has remained consistent with previous years, where hiring activity revolved around replacing critical roles, although this slowed down towards the end of 2018.

ARRIVAL OF MNCS MEANS MORE ROLES

AT DIRECTOR LEVEL

Overall, HRBP and talent acquisition roles of all levels are increasing in demand across the board. There is also a positive outlook for senior HR professionals as the market picks up in 2019. With the consistent influx of global companies establishing their APAC headquarters in Singapore, new roles are being created at director level and we expect further growth in this area in the coming year.

Organisations are continuing their focus on talent retention while restructuring their HR teams to become more streamlined. Accordingly, the need for HR professionals within the shared services environment and in the CoEs will be on the rise.

Salary-wise, compensation for HR professionals will remain steady in the near future. Job seekers have been practical in their remuneration expectations and do not necessarily look for an increment when switching jobs, and are instead more inclined towards career progression opportunities.

As with the past 12 months, we expect a heightened requirement for temporary and contract professionals as employers hold off on permanent headcounts, especially within the banking sector. Both candidates and employers are becoming increasingly accepting of this concept for HR functions.

“The recruitment of temporary and contract workers will contine to increase in Singapore throughout the whole of 2019.”

HUMAN RESOURCES

Establish stakeholder engagement skills 2

Develop your people skills 5

Find out what a business needs not what a business wants 3

Build strong relationships with your counterparts 4

Be commercially aware 1

Source: Hays Asia DNA of an HRD released in July 2017

Top tips for the next generation of HRDs


NOTES

Regional HR Director/

SVP of HR (15+ yrs)

Regional HR Director/

VP of HR (10+ yrs)

HR Director/Head of

HR (8-10+ yrs)

HR Director/

Head of HR (<8 yrs)

Mainland China 1,500 - 4,000 800 - 1,500 500 - 1,000 400 - 800

Hong Kong 1,200 - 2,280 960 - 1,500 960 - 1,200 840 - 1,200

Japan N/A 18 - 30 16 - 30 13 - 17

Malaysia 360 - 600 265 - 420 240 - 300 180 - 240

Singapore 250 - 400 220 - 250 180 - 220 150 - 180

Regional HR Manager/

HRBP (10+ yrs)

HR Manager/HRBP

(10+ yrs)

HR Manager/HRBP

(6+ yrs)

Assistant HR

Manager (4+ yrs)

Mainland China 700 - 1,000 400 - 800 350 - 500 200 - 350

Hong Kong 960 - 1,440 720 - 1,200 480 - 600 300 - 480

Japan 13 - 18 11 - 16 8 - 13 7 - 10

Malaysia 180 - 360 140 - 240 102 - 192 72 - 120

Singapore 150 - 185 120 - 150 80 - 120 70 - 100

Regional Talent

Acquisition Director

(12+ yrs)

Regional Talent

Acquisition Manager

(10+ yrs)

Senior HR

Executive

(5+ yrs)

HR Executive

(2+ yrs)

Mainland China 800 - 1,600 500 - 900 150 - 300 100 - 240

Hong Kong 840 - 1,200 540 - 840 300 - 480 150 - 360

Japan N/A 15 - 20 6 - 10 5 - 7

Malaysia 180 - 300 145 - 216 72 - 96 48 - 72

Singapore 180 - 250 150 - 180 55 - 65 40 - 55

TA/Recruitment

Manager (8+ yrs)

TA/Recruitment

Specialist (5+yrs)

TA/Recruitment

Coordinator (3+ yrs)

Campus Recruiter

(3+ yrs)

Mainland China 300 - 700 150 - 300 100 - 150 100 - 250

Hong Kong 540 - 720 360 - 540 216 - 360 264 - 360

Japan 12 - 17 7 - 12 4.5 - 6.5 6 - 10

Malaysia 110 - 180 72 - 120 54 - 72 54 - 180

Singapore 100 - 150 60 - 90 40 - 50 50 - 72

Regional L&D

Director (10+ yrs)

Regional L&D

Manager (10+ yrs)

L&D Manager

(5+ yrs)

L&D Offi cer

(3+ yrs)

Mainland China 800 - 1,200 500 - 800 200 - 650 100 - 250

Hong Kong 900 - 1,560 720 - 960 450 - 750 216 - 336

Japan 15 - 20 12 - 18 9 - 15 7 - 9

Malaysia 215 - 384 180 - 252 108 - 192 60 - 108

Singapore 180 - 300 120 - 180 80 - 120 60 - 80


HUMAN RESOURCES


NOTES


HUMAN RESOURCES

Regional Director

Compensation &

Benefi ts (12+ yrs)

Regional Compensation

& Benefi ts

Manager (10+ yrs)

Manager

Compensation &

Benefi ts (8+ yrs)

Compensation &

Benefi ts Specialist

(3+ yrs)

Mainland China 800 - 2,000 600 - 1,000 400 - 700 150 - 300

Hong Kong 960 - 1,800 720 - 900 480 - 720 300 - 400

Japan 15 - 22 12 - 17 10 - 16 6 - 10

Malaysia 300 - 420 180 - 300 120 - 192 78 - 120

Singapore 180 - 300 150 - 180 120 - 150 80 - 120

HRIS Manager

(8+ yrs)

HRIS Administrator

(3+ yrs)

Mainland China 200 - 550 100 - 200

Hong Kong 480 - 720 180 - 360

Japan 8 - 13 5 - 8

Malaysia 90 - 180 50 - 84

Singapore 80 - 120 40 - 60

Organisational

Development

Manager (10+ yrs)

Shared Services

Manager (8+ yrs)

Payroll Manager

(8+ yrs)

Payroll Offi cer

(3+ yrs)

Mainland China 500 - 1,200 400 - 700 300 - 600 100 - 180

Hong Kong 660 - 900 480 - 720 480 - 720 216 - 336

Japan 12 - 18 10 - 15 9 - 13 5 - 9

Malaysia 180 - 336 180 - 300 110 - 180 60 - 80

Singapore 120 - 250 90 - 220 90 - 175 50 - 90


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MAINLAND CHINA

DRIVEN BY A NUMBER OF FACTORS, THE

IT MARKET WILL REMAIN STRONG IN 2019

Market competition in this fast-growing, more connected business environment is pushing Chinese enterprises to accelerate their digital transformation programmes in 2019, with emerging technologies as the driving force. Technologies such as big data, cloud, IoT, and AI enable enterprises to not only maximise customer value across the entire life cycle, but also help achieve efficiency and agility for operational excellence.

STRATOSPHERIC DEMAND FOR AI

TALENT

Of these technologies, from business operations to customer experiences, it is AI that is at the forefront of this transformational change in Mainland China. AI is radicalising a number of industries including education, banking, healthcare, security, manufacturing and industry. Due to its revolutionary nature, the demand for AI is expected to be exceptionally high in 2019, having already received considerable support at the national level, with the government endowing it the status of ‘key national strategy’.

The reason behind this immense governmental assistance is Mainland China’s aims to be the global AI leader by 2030.

AI SALARIES UP 35 TO 50 PER CENT

AI and big data are the two highest paid fields due to the huge demand for talent. Graduates and experienced AI candidates in computer vision, voice recognition, and natural language processing are hot commodities in the market. This vociferous demand has seen AI related salaries increase from between 35 and 50 per cent, and fresh graduates with a bachelor’s degree can make between RMB300,000 to RMB500,000 a year. Candidates operating in AI can make 50 per cent more than those in other industries.

In addition to technical aspects, investment in Mainland China’s IT sector will continue focus on software and services in 2019. Hardware spending will still dominate, but growth will be flat, while decision makers have come to

realise that software is core to business success and customer understanding throughout the customer life cycle.

HONG KONG

2018’S STORIES OF MASS CYBERCRIME

HAVE SPAWNED A BOOM IN IT SECURITY

AND CANDIDATE DEMAND IS

STRUGGLING TO KEEP UP

Demand in the information security space in Hong Kong remains high, particularly for junior to mid-level candidates and senior candidates with people management experience.

Due to recent regulatory changes and an increase in global cybercrime, companies have rapidly expanded their security teams over the past few years. While financial institutions have traditionally been responsible for the majority of hiring, non-financial companies have realised the importance of cybersecurity and a number have begun cybersecurity programmes.

As a consequence, demand for candidates has exceeded supply, resulting in increased salaries. Moreover, to combat the talent shortage, open-minded hiring managers who recruit based on a candidate’s ability to learn have found it easier to fill their headcounts.

Furthermore, it goes without saying that those who continue to hire by adhering to checklists have found their roles remain open for as long as six months to a year.

THOUGH UNPOPULAR, IT AUDIT IS AN

AREA WITH EASY CANDIDATE ACCESS

In terms of skillsets, candidates who are proficient in penetration testing remain in high demand. Moreover, while it is considered dry by some, individuals who are interested in pursuing a career in IT audit will also find endless opportunities.

On the infrastructure front, service providers have experienced healthy growth over the past year due to the increased business activity of their clients. As a result, helpdesk specialists and system engineers are highly coveted.

STRICTER PROCESSES TO SCREEN

TALENT WITHOUT HANDS-ON

EXPERIENCE

Network engineers, too, continue to be

much sought after. However, despite the enthusiastic competition in the market, some firms have been subjecting applicants to more stringent screening processes to filter out candidates who may possess good technical knowledge but do not necessarily have the practical skills to perform the job.

As such, companies are willing to pay a premium to network engineers.

JAPAN

ENTERPRISE TECHNOLOGY AND THE

DIGITAL SECTOR HAVE SUSTAINED

RECRUITMENT NEEDS THAT WILL

CONTINUE INTO 2019

Organisations across the retail and pharmaceutical industry are further increasing their levels of IT investment, something that is in turn generating a greater need for IT strategy solution professionals, IT consultants, and project managers. We anticipate an even greater increase in candidate demand across several sectors including hospitality, retail, and other IT services. This development comes as companies look to plan, design, and implement new infrastructure, with the intention of further improving internal or client business processes aligned to applications such as SAP, CRM (Veeva), and other digitalised systems.

INFORMATION TECHNOLOGY

“Mainland China aims to be the global AI leader by 2030.”


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LARGE NUMBER OF OMNICHANNEL

PROJECTS PUSHING PURSUIT OF

E-COMMERCE CANDIDATES

Within the retail sector, omnichannel retailing has been the dominant strategy, leading companies to strengthen their e-commerce functions on mobile anddesktop platforms. The great number ofprojects related to launching or extendingthis platform has created demand forcandidates with technical knowledge ine-commerce in order to enhance digitalcontents for modern-day consumers.

Within the IT consulting sector, the demand for strategy consultants, industry consultants, and other highly skilled professionals is outpacing supply. Employers will find it challenging to fill mid-career level roles due to fierce competition, explicitly in the Japan bilingual market.

GRADUAL SALARY INCREMENTS IN THE

YEAR AHEAD

Given the high demand for IT engineers, IT consultants, and IT project managers across various sectors of enterprise technology, we expect salaries to gradually increase throughout the competitive market of 2019.

MALAYSIA

MALAYSIAN COMPANIES LOOK

FORWARD TO MARKET GROWTH

Malaysian organisations are coming to terms with the necessity for digital transformation following the economic pressures and industrial changes of 2017. Other than digitalisation, the IT market has been redefined to anticipate future technological growth. We are beginning to see a rise in the demand from the big players in the market for newer technologies, especially in blockchain, big data and cloud.

Demand for functional SAP consultants has increased due to the introduction of rapidly changing technology and new product portfolios. Projects related to automation or upgrades of ERP have been implemented over the past year to encourage cost efficiency.

Despite the emergence of newer technologies, traditional programming languages such as .NET and C#. are still

very much a staple of the market. Skills in these areas will remain necessary for as long as the rest of the industry resists the adoption of new technologies.

E-COMMERCE INUSTRY TO EXPAND, AND

CYBERSECURITY A KEY CONSIDERATION

As the mobile penetration rate increases, mobility will be a key factor for organisations in Malaysia. There is an increasing trend to adapt mobile usage and products via portable devices, paving the way for the e-commerce industry. This sector will grow rapidly, leading to a greater need for digital, payment and analytics candidates to cater for the more sophisticated consumer needs.

There is high demand for cloud infrastructure as organisations plan to employ the emerging trend for cloud-based analytics, meaning that the need for cybersecurity professionals will grow exponentially.

UPSKILLING KEY TO COUNTERING

TALENT SHORTAGES

IT candidates are required to be versatile and able to adapt quickly as the technology is rapidly evolving. The demand for talent remains significantly higher than the supply, leading some organisations to turn to current employees and develop them through retraining and upskilling.

SINGAPORE

CLOUD TRANSITIONING AND DEVOPS

PRACTICES ARE AREAS OF KEY NOTE IN

2019 AS THE SINGAPORE GOVERNMENT

OFFERS STRONG ENCOURAGEMENT FOR

THE IT SECTOR

Technology in Singapore has been growing steadily as the thriving industry receives strong support from the government. The nation recognises the importance of having a strong infrastructure in place, and we are seeing a great number of new initiatives being established in order to develop fresh talent and skills amongst local candidates.

More enterprise businesses are transitioning their traditional infrastructure onto cloud and taking on DevOps practices. There is also a strong trend of Linux engineers working on cloud in e-commerce and internet companies, and their ability to

work in a large-scale server environment is highly sought after amongst companies looking to ensure server reliability. Other areas of infrastructure that are in demand are helpdesk engineers and system engineers, and we foresee these positions remaining strong in the market over the coming months.

CYBERSECURITY CANDIDATES SHOULD

PLACE GREATER EMPHASIS ON

EXPERIENCE OVER ACCREDITATION

Cybersecurity was another topic of note in 2018 as Singapore reviewed its current national security measures and policies. Candidates are approaching security certifications with great interest, but employers are placing greater value on work experience and hands-on ability.

SALARIES FACING UPWARD PRESSURE

FROM WELL-FUNDED START-UPS

Well-funded start-ups are prepared to pay above market price in order to acquire the best talent for their teams, though smaller companies with tight budgets may struggle to attract candidates if their salary range is not in line with the competitive market. As the demand for cloud, security and DevOps engineers increases, we expect salaries to remain strong and rise throughout 2019.

Organisations throughout a number of industries including pharmaceutical, e-commerce, gaming, education, andmedia are looking to hire.

INFORMATION TECHNOLOGY

Source: Colliers International, 2018 Top Locations in Asia: Technology

1. Bangalore

2. Singapore

3. Shenzhen

4. Beijing

5. Hyderabad & Hong Kong

Best technology locations in Asia:


NOTES

INFORMATION TECHNOLOGYDEVELOPMENT


ANALYST PROGRAMMER MS.Net/J2EE

VB6/ASP/SQL/

Delphi/C++

Oracle Forms/

Reports

Mainland China 300 - 550 250 - 350 180 - 350

Hong Kong 264 - 456 264 - 456 240 - 456

Japan 6 - 9 6 - 9 8 - 12

Malaysia 60 - 85 60 - 85 60 - 85

Singapore 50 - 75 50 - 75 55 - 90

SENIOR ANALYST PROGRAMMER MS.Net/J2EE

VB6/ASP/SQL/

Delphi/C++

Oracle Forms/

Reports

Mainland China 320 - 500 280 - 420 300 - 420

Hong Kong 420 - 660 384 - 600 384 - 660

Japan 8 - 12 8 - 12 8 - 13

Malaysia 90 - 120 90 - 120 70 - 100

Singapore 72 - 100 72 - 100 55 - 90

DATA SPECIALISTS Data Architect

Database

Administrator Data Modeller

Data Warehouse

Consultant Data Analyst

Mainland China 500 - 1000 250 - 450 300 - 600 300 - 400 350 - 600

Hong Kong 540 - 900 420 - 660 420 - 700 420 - 840 384 - 660

Japan 10 - 15 8 - 12 10 - 14 10 - 15 8 - 13

Malaysia 120 - 240 120 - 180 144 - 216 120 - 216 96 - 144

Singapore 105 - 165 72 - 120 70 - 120 60 - 100 85 - 160

MANAGEMENT ROLES

Development

Team Leader

Development

Manager

Mainland China 450 - 750 600 - 900

Hong Kong 720 - 1,050 900 - 1,500

Japan 9 - 15 15 - 17

Malaysia 120 - 198 180 - 264

Singapore 105 - 156 132 - 200

SOFTWARE TESTING Test Analyst

Senior Test

Analyst QA Manager QA Director

Mainland China 150 - 250 300 - 500 420 - 630 580 - 850

Hong Kong 420 - 800 600 - 1,000 600 - 850 700 - 1,100

Japan 6 - 8 8 - 10 9 - 13 10 - 15

Malaysia 75 - 90 108 - 144 180 - 216 264 - 330

Singapore 55 - 90 68 - 105 84 - 108 165 - 225


NOTES


INFORMATION TECHNOLOGYINFRASTRUCTURE

WAN

Cisco

Engineer

Voice/

Comms

Engineer

Network

Design

Technical

Architect

Solutions &

Enterprise

Architect

NOC

Engineer

Mainland China 180 - 300 220 - 350 300 - 450 350 - 500 400 - 550 150 - 220

Hong Kong 500 - 800 560 - 1,000 550 - 1,000 760 - 1,400 760 - 1,400 460 - 760

Japan 8 - 14 8 - 12 10 - 13 11 - 15 11 - 15 6 - 8

Malaysia 78 - 100 96 - 144 120 - 160 120 - 216 180 - 300 84 - 120

Singapore 55 - 100 50 - 95 90 - 150 120 - 180 140 - 220 45 - 60

SYSTEMS ADMINISTRATION Unix Admin

Sybase/

Oracle/MS

SQL DBA

Storage

Engineer

Voice

Engineer

Network

Engineer

Windows

(Wintel)

Admin

Mainland China 280 - 450 350 - 580 280 - 380 200 - 280 200 - 350 150 - 300

Hong Kong 500 - 900 470 - 800 460 - 860 660 - 950 480 - 860 420 - 800

Japan 7 - 10 7 - 11 8 - 12 7 - 11 7 - 11 7 - 11

Malaysia 84 - 144 96 - 180 96 - 180 96 - 144 96 - 144 60 - 100

Singapore 70 - 120 70 - 150 75 - 125 45 - 100 65 - 130 55 - 90

TECHNICAL SPECIALIST

Security

Engineer

Security

Consultant

Messaging

Specialist

Unix

Consultant

Pre Sales

Engineer

Mainland China 350 - 550 350 - 600 N/A N/A 250 - 400

Hong Kong 500 - 800 700 - 1,100 620 - 1,000 500 - 900 500 - 920

Japan 8 - 13 8 - 15 8 - 12 8 - 12 10 - 16

Malaysia 72 - 192 120 - 216 120 - 180 96 - 180 96 - 180

Singapore 70 - 125 100 - 155 75 - 120 80 - 140 120 - 190

MANAGEMENT ROLES

Helpdesk

Manager

Network

Manager IT Manager

Mainland China 280 - 480 300 - 500 400 - 800

Hong Kong 480 - 920 600 - 1,000 760 - 1,200

Japan 9 - 12 10 - 14 11 - 16

Malaysia 96 - 150 120 - 180 120 - 180

Singapore 85 - 140 100 - 160 100 - 190


NOTES


INFORMATION TECHNOLOGYBUSINESS

ANALYSIS & PROJECT

Technical Business

Administration

Business/

Process Analyst Systems Analyst

Mainland China 250 - 380 300 - 550 250 - 400

Hong Kong 460 - 760 460 - 840 360 - 660

Japan 7 - 10 9 - 12 9 - 12

Malaysia 120 - 180 96 - 150 90 - 144

Singapore 120 - 175 110 - 150 90 - 130

Project Manager

Project/

Program Director IT Audit

Mainland China 320 - 600 550 - 1,200 350 - 580

Hong Kong 580 - 950 900 - 1,400 600 - 1,000

Japan 8 - 14 12 - 16 8 - 13

Malaysia 100 - 180 216 - 360 96 - 180

Singapore 120 - 190 190 - 280 90 - 175

ERP/CRM

PeopleSoft

Technical

PeopleSoft

Functional

Basis

Administration SAP Analyst

Mainland China 250 - 420 250 - 450 150 - 200 220 - 450

Hong Kong 520 - 850 650 - 900 430 - 650 500 - 1,000

Japan 11 - 15 9 - 14 9 - 12 9 - 13

Malaysia 90 - 150 100 - 180 90 - 160 96 - 144

Singapore 80 - 130 90 - 170 90 - 150 75 - 130

SAP Functional

Consultant ABAP Developer Oracle Developer

ERP Project

Manager

Mainland China 300 - 500 250 - 450 220 - 350 600 - 930

Hong Kong 520 - 1,000 500 - 800 600 - 800 1,000 - 1,450

Japan 10 - 14 9 - 12 9 - 12 9 - 13

Malaysia 144 - 240 70 - 120 80 - 144 144 - 300

Singapore 95 - 160 55 - 85 66 - 110 120 - 200


NOTES

INFORMATION TECHNOLOGYBUSINESS


MANAGEMENT ROLES

Data Centre

Manager

Service Delivery

Manager

Client Relationship

Manager

Professional

Services Manager

Mainland China 500 - 1,100 600 - 1,000 400 - 800 600 - 1,200

Hong Kong 650 - 1,100 700 - 1,100 700 - 900 1,000 - 1,800

Japan 8 - 10 11 - 15 11 - 15 12 - 16

Malaysia 144 - 240 120 - 180 160 - 260 180 - 300

Singapore 110 - 170 160 - 280 160 - 250 160 - 250

IT Director

Chief Information

Offi cer Project Manager

Director Network

Operations

Mainland China 800 - 1,500 1,500 - 2,800 400 - 650 500 - 700

Hong Kong 950 - 1,750 1,500 - 3,000 580 - 800 550 - 850

Japan 13 - 18 17 - 25 8 - 14 12 - 20

Malaysia 300 - 420 300 - 600 108 - 216 240 - 420

Singapore 220 - 350 325 - 525 130 - 220 160 - 250

BUSINESS DEVELOPMENT Manager Senior Manager Sales Director Account Manager

Mainland China 455 - 700 500 - 1,250 850 - 2,000 390 - 845

Hong Kong 750 - 1,100 1,000 - 2,000 1,500 - 1,800 620 - 830

Japan 10 - 15 12 - 18 10 - 20 10 - 20

Malaysia 150 - 210 168 - 300 240 - 480 120 - 180

Singapore 120 - 220 160 - 270 250 - 480 120 - 210

Presales Consultant Presales Manager

Technical Sales

Manager Industry Consultant

Mainland China 300 - 900 600 - 1,200 600 - 900 300 - 600

Hong Kong 550 - 900 620 - 900 1,400 - 1,800 N/A

Japan 12 - 18 13 - 18 N/A N/A

Malaysia 100 - 200 144 - 300 216 - 350 300 - 480

Singapore 130 - 215 170 - 250 170 - 250 320 - 550


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INFORMATION TECHNOLOGYTELECOM | DEVELOPMENT

BILLING Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 8 - 12 8 - 12

Malaysia 90 - 160 95 - 170 70 - 140 120 - 180 100 - 180 130 - 220

Singapore 80 - 130 90 - 140 66 - 130 110 - 170 95 - 160 100 - 170

CRM Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 8 - 12 8 - 12

Malaysia 90 - 150 90 - 150 60 - 120 130 - 220 110 - 180 130 - 220

Singapore 85 - 140 95 - 160 70 - 130 120 - 200 100 - 160 120 - 210

SDP Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 8 - 12 8 - 12

Malaysia 80 - 150 90 - 150 70 - 120 120 - 220 100 - 160 120 - 210

Singapore 80 - 140 90 - 150 80 - 120 100 - 170 90 - 150 90 - 170

OSS Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 9 - 13 10 - 14

Malaysia 80 - 140 80 - 140 60 - 120 120 - 220 100 - 160 120 - 200

Singapore 80 - 140 75 - 130 70 - 130 110 - 180 90 - 150 110 - 190

BSS Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 9 - 13 10 - 14

Malaysia 80 - 120 80 - 120 60 - 120 120 - 220 100 - 160 120 - 200

Singapore 90 - 130 75 - 130 60 - 120 110 - 180 90 - 150 105 - 170

VAS Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 8 - 12 8 - 12

Malaysia 80 - 130 70 - 120 70 - 130 120 - 220 80 - 145 100 - 190

Singapore 85 - 125 75 - 120 70 - 120 100 - 170 75 - 130 90 - 170

EAI Development Integration Support Architect Business

Analyst

Manager

Japan 7 - 9 6 - 8 5 - 7 8 - 12 8 - 12 8 - 12

Malaysia 80 - 130 80 - 130 60 - 110 120 - 220 90 - 150 120 - 190

Singapore 95 - 140 85 - 140 72 - 120 120 - 190 110 - 160 110 - 180


NOTES


INFORMATION TECHNOLOGYTELECOM | INFRASTRUCTURE

TELECOM | BUSINESS

ANALYSIS & PROJECT

Business

Transformation

Project

Manager

Project/Program

Director

Japan 8 - 12 8 - 12 10 - 15

Malaysia 180 - 300 102 - 216 240 - 360

Singapore 140 - 250 130 - 200 190 - 300

MANAGEMENT ROLES

Service

Delivery Mgr

Managed

Services Mgr

Chief Solution

Architect

Director

Services

Japan 9 - 13 9 - 13 12 - 15 12 - 16

Malaysia 120 - 180 180 - 300 240 - 420 330 - 540

Singapore 140 - 250 150 - 250 190 - 310 280 - 420

BUSINESS DEVELOPMENT

Senior

Manager

Account

Manager

Presales

Consultant

Presales

Manager

Technical

Sales Manager

Industry

Consultant

Japan 15 - 20 7 - 12 7 - 13 9 - 14 8 - 14 8 - 16

Malaysia 300 - 480 90 - 150 150 - 210 180 - 250 204 - 300 250 - 350

Singapore 160 - 250 140 - 220 140 - 210 160 - 240 160 - 250 300 - 550

MPLS NETWORK Engineer Integration Support Architect Presales Manager

Japan 6 - 9 6 - 9 6 - 8 8 - 13 10 - 15 9 - 15

Malaysia 70 - 130 75 - 110 60 - 100 120 - 200 150 - 220 120 - 190

Singapore 70 - 120 70 - 100 60 - 100 120 - 200 140 - 210 110 - 180

FIXED & MOBILE NETWORK Engineer Integration Support Architect Presales Manager

Japan 6 - 9 6 - 9 6 - 8 8 - 13 10 - 15 9 - 15

Malaysia 70 - 120 75 - 110 60 - 110 120 - 200 140 - 210 120 - 180

Singapore 65 - 125 70 - 100 65 - 110 110 - 190 130 - 200 110 - 180

BTS/MICROWAVE

Field Service

Engineer

Senior

Engineer Lead Manager

Japan 5 - 8 7 - 9 8 - 10 9 - 15

Malaysia 70 - 90 100 - 130 120 - 170 120 - 190

Singapore 60 - 80 70 - 110 78 - 140 110 - 170

VAS NETWORK Engineer Senior Engineer Manager

Japan 6 - 9 7 - 10 8 - 12

Malaysia 70 - 120 100 - 130 120 - 160

Singapore 75 - 120 90 - 120 100 - 160


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HONG KONG

TECHNOLOGICAL ADVANCEMENTS AND

REGULATORY CHANGE ARE THE KEY

FACTORS DRIVING RECRUITMENT IN

HONG KONG’S INSURANCE INDUSTRY

The Hong Kong insurance sector continued to achieve growth in overall premiums throughout 2018, and although year-on-year growth has decreased slightly since 2017, the positive trend should continue. In 2019, most employers will increase their headcount marginally and will implement new benefit strategies to attract prospective candidates.

From a distribution perspective, traditional bancassurance and agency channels experienced strong progress over the last year as a number of insurers and banks developed long-term partnerships. However, payment restrictions are likely to see increases less prominent in 2019. The industry is seeing an increase in direct digital distribution with the Hong Kong Insurance Authority fast tracking approval for these unconventional methods.

INSURTECH INVESTMENT TO LEAD TO

JOB LOSSES IN MANUAL AND

ADMINISTRATIVE AREAS

In 2018, companies invested in insurance technology in order to enhance efficiencies, internal processes, and the collection of data, driving a requirement for project and process improvement positions, though the market will remain candidate short in the year ahead. Another result of companies adopting these disruptive technologies is that we may see a loss of jobs within insurance operations as manual or administrative duties can easily be replaced, particularly in claims and policy servicing departments.

We expect a continuous increase in hiring across compliance, audit and risk as regulatory change will lead insurers to enhance their governance, enterprise risk, internal audit and controls functions. As such, more opportunities are created for candidates to fast track their career into management roles. Due to global regulations such as IFRS17, opportunities for overseas candidates in Hong Kong are on the rise as this specialism is extremely candidate short.

CANDIDATES WITH ACQUISITIONS AND

TECHNOLOGY EXPERIENCE IN SHORT

SUPPLY

In the area of strategy, 2018 saw company growth through investment in traditional transactions such as insurance acquisitions and bank partnerships, and the coming year should see this continue, with technological advancements and the acquisition of innovative businesses also becoming increasingly important. Therefore, we expect this area to remain a candidate-short market.

In terms of salary levels, we expect slight increments in 2019, but strongly advise insurance firms to review their salary packages for new hires. Firms hiring in a talent-short area will need to be competitive when offering salaries, benefits, and career progression.

JAPAN

ROLE AVAILABILITY IN JAPAN’S

INSURANCE INDUSTRY IS EXPECTED

TO CONTINUE ITS UPWARD TRAJECTORY

IN 2019

Over the last year we saw substantial M&A activity involving insurers at home and abroad, while a number of new players entered the market looking to hire talented insurance professionals. We also saw a trend for non-insurance companies expanding into the sector, using their existing businesses as platforms from which to sell new insurance products. As a result, we expect to see a steady increase of job openings throughout the insurance industry in 2019.

JAPAN’S INSURTECH SECTOR GROWTH

IS BEHIND ASIAN STANDARDS, BUT

IMPROVING STEADILY

2018 also saw a closer connection between life insurance, innovation and health sectors leading to an increase in product ranges and add-on options. Insurtech is another growing sector in Japan, and while not as prominent as in the rest of Asia, we will continue to see more customer-centric and customer experience roles come into the market in 2019.

One constant in Japan’s insurance sector is the number of consulting firms on the lookout for insurance professionals. This trend will remain in 2019, and we will also

see demand for junior sales professionals from consulting and traditional insurance firms alike.

COMPANIES BUCKING THE STATUS QUO

AND TAKING ON MORE MID-CAREER

CANDIDATES

As a rule, major domestic insurance companies hire newly-graduated talent in the hundreds in April every year, with the recruitment of mid-career professionals infrequent. However, as business models take more of a globalised slant, this practice is gradually changing and the recruitment of mid-career experts is more commonplace, creating a new market for mature jobseekers. However, some domestic companies have yet to establish clear career paths for these mid-career employees, and thus face new challenges when it comes to fair evaluation and career path accommodation.

In response to changing societal norms and candidate expectations, flexitime and work-from-home schemes are being widely adopted by insurance companies.

We expect higher demand for in-house insurance risk professionals in 2019 as more digital avenues are implemented, and the uncertainty that surrounds how the Financial Services Authority (FSA) might regulate them. This demand is likely to extend to consultants in professional firms also.

“The number of consulting fi rms in Japan looking to hire insurance professionals will increase in 2019.”

INSURANCE


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MALAYSIAA YEAR OF HYPERACTIVITY HAS CULMINATED IN A NUMBER OF CHANGES IN MALAYSIA’S INSURANCE SECTOR

2018 was a whirlwind year for Malaysia, with various mergers and acquisitions, regulatory change, and the constant striving for innovation combining to shape the development of the industry. These factors are all expected to have significant impact on the types of roles that will be created in 2019.

Insurance companies are likely to consider consolidating further in 2019 to 2020 in order to achieve a better competitive advantage and drive the economy in a more transformative way. This, paired with changes in the political climate, may translate to insurers tightening their budgets and slowing down recruitment.

DIGITALISATION TO HAVE A GREATER IMPACT IN 2019

Meanwhile, life insurers and general insurers alike are in the process of improving their sales strategies through the development and enhancement of their digital platforms. Agency and bancassurance are still the main drivers of new business, with online distribution channels bringing in less than one per cent of new premiums. However, we foresee the growing digitalisation trend having a significant impact in the recruitment of professionals in product development, distribution and sales training in 2019.

In addition to digitalisation, the insurance industry is also mirroring the banking industry in its pursuit of automation. While this may have a negative impact on traditional insurance operations, it will have positive implications for those specialising in IT or big data.

REGULATORY LEEWAY GIVES MORE FREEDOM IN RISK AREAS

Bank Negara’s exposure draft on credit risk, as well as similar changes in their requirements, is giving more leeway for further development in the risk function. This will create new opportunities in the long term, particularly in credit and IT risk.

There has also been a spike in demand for actuarial professionals across numerous functions due to changes in regulatory

requirements, including IFRS17. This demand will see professionals with actuarial experience venturing into finance, risk management, product development and data analytics in 2019.

SINGAPORE AFTER A WHOLLY POSITIVE YEAR IN 2018, THE COMING 12 MONTHS WILL SEE GROWTH IN SALES

Following on from a turbulent 2017, 2018 presented a much more positive picture for Singapore’s insurance industry. Life insurers in particular saw a strong year in premium growth, although general insurers could not report such positivity.

2018 saw most insurers focusing on driving down costs whilst looking to strengthen their sales and distribution functions. We expect this trend to continue into the coming year and anticipate significant competition as insurers look to grow their sales and agency businesses.

ACTUARIES IN A STONG POSITION TO RECEIVE IMPRESSIVE SALARIES

We anticipate limited growth in back office and support functions but continue to see healthy demand for experienced professionals in core functions, including underwriting and claims. There remains a shortage of qualitied actuaries in the market and, as in 2018, talent will be in a strong position to command higher salaries when switching jobs.

As with previous years, ensuring a robust approach towards audit, risk and compliance will be a key priority for insurers in 2019. Given the limited number of candidates in the Singapore market with relevant domain experience, these candidates should secure impressive salary uplifts.

TECHNOLOGICALLY ADEPT TALENT TO CAPTURE PROMINENT ROLES

Technology will continue to play a bigger role in the insurance industry through 2019, with more insurtech start-ups entering the market and attempting to disrupt the status quo. Concurrently, tech-savvy candidates with deep insurance industry exposure will be able to aquire sought-after jobs in highly-disruptive companies.

“The insurance industry in Malaysia is mirroring the banking industry in its pursuit of automation.”

INSURANCE

Asia drove 76% of global insurance growth in 2017.

Data source: Allianz Research published in April 2018


NOTES


INSURANCE

ACTUARIAL Chief Actuary

Department

Head Senior Manager Manager Associate

Hong Kong 1,600 - 2,600 1,200 - 1,800 840 - 1,200 600 - 780 180 - 480

Japan 20 - 30 15 - 25 13 - 20 10 - 18 5 - 8

Malaysia 420 - 660 180 - 300 180 - 264 84 - 192 60 - 84

Singapore 260 - 440 180 - 340 140 - 180 120 - 150 50 - 90

DISTRIBUTION

Chief Distribution

Offi cer

Chief Agency

Offi cer

Head of

Bancassurance

Head of

Alternate

Distribution

Head of Sales

Development

Hong Kong 1,500 - 2,500 1,300 - 2,000 1,200 - 2,000 1,100 - 1,700 1,100 - 1,700

Japan 15 - 30 15 - 30 15 - 25 15 - 25 15 - 25

Malaysia 360 - 600 300 - 480 192 - 264 192 - 264 192 - 264

Singapore 270 - 450 270 - 350 200 - 280 220 - 280 220 - 280

AGENCY Agency Director Senior Manager Manager Assistant Manager Agency Offi cer

Hong Kong 840 - 1,400 660 - 950 480 - 660 360 - 480 220 - 360

Japan 15 - 20 12 - 18 8 - 12 7 - 10 5 - 8

Malaysia 120 - 180 156 - 216 60 - 96 39 - 54 33 - 39

Singapore 140 - 190 140 - 180 110 - 140 70 - 100 40 - 60

BANCASSURANCE

Department

Head Senior Manager Manager

Assistant

Manager

Bancassurance

Offi cer

Hong Kong 1,200 - 2,000 720 - 1,100 480 - 720 360 - 480 180 - 300

Japan 15 - 20 12 - 15 10 - 12 6 - 10 5 - 7

Malaysia 180 - 264 156 - 216 90 - 144 60 - 84 36 - 54

Singapore 250 - 420 160 - 220 120 - 150 80 - 120 40 - 60

ALTERNATE DISTRIBUTION Channel Director Senior Manager Manager Assistant Manager

Hong Kong 1,100 - 1,400 750 - 900 540 - 690 400 - 500

Japan 15 - 25 12 - 18 10 - 14 6 - 10

Malaysia 168 - 240 168 - 150 72 - 108 42 - 60

Singapore 155 - 250 120 - 150 90 - 120 70 - 80

FINANCE

Chief

Financial Offi cer Finance Director

Financial

Controller

Senior Finance

Manager

Finance

Manager

Hong Kong 1,800 - 3,000 1,080 - 1,800 1,080 - 1,800 684 - 1,080 540 - 720

Japan 15 - 30 15 - 25 15 - 20 12 - 18 10 - 16

Malaysia 360 - 420 300 - 360 180 - 300 120 - 180 84 - 120

Singapore 240 - 500 190 - 250 145 - 240 140 - 180 100 - 150


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INSURANCE

CLAIMS GENERAL Head of Claims

Head of

Business Line Senior Manager Manager

Assistant

Manager

Hong Kong 750 - 1,200 700 - 800 650 - 750 500 - 650 300 - 450

Japan 18 - 25 15 - 18 8 - 12 6 - 10 5 - 8

Malaysia 220 - 320 168 - 220 120 - 180 84 - 120 54 - 84

Singapore 200 - 300 170 - 210 130 - 200 125 - 190 80 - 100

UNDERWRITING LIFE

Chief

Underwriter Director Senior Manager Manager

Assistant

Manager

Hong Kong 1,000 - 1,800 900 - 1,200 696 - 840 540 - 720 420 - 540

Japan 18 - 25 15 - 18 10 - 15 8 - 12 6 - 8

Malaysia 300 - 440 216 - 300 168 - 216 72 - 120 54 - 80

Singapore 300 - 420 250 - 300 150 - 200 100 - 140 70 - 90

UNDERWRITING GENERAL

Chief

Underwriter

Head of

Business Line Senior Manager Manager

Assistant

Manager

Hong Kong 1,000 - 2,000 900 - 1,700 700 - 850 550 - 650 300 - 480

Japan 18 - 25 15 - 18 10 - 15 8 - 12 6 - 8

Malaysia 250 - 450 240 - 312 144 - 240 96 - 156 72 - 96

Singapore 300 - 420 250 - 300 150 - 200 100 - 140 70 - 90

CLAIMS LIFE Head of Claims Senior Manager Manager

Assistant

Manager

Hong Kong 800 - 1,200 650 - 780 504 - 660 360 - 480

Japan 15 - 20 12 - 15 8 - 10 6 - 10

Malaysia 204 - 300 132 - 192 70 - 132 54 - 78

Singapore 200 - 300 130 - 200 125 - 190 60 - 90


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INSURANCE

PROJECTS Program Head

Senior Project/

Program Manager Project Manager

Assistant

Manager

Business

Analyst

Hong Kong 950 - 2,500 750 - 1,100 540 - 780 360 - 540 240 - 420

Japan 15 - 20 12 - 20 8 - 15 6 - 10 5 - 10

Malaysia 300 - 420 240 - 300 156 - 240 84 - 156 56 - 132

Singapore 250 + 180 - 250 140 - 180 90 - 130 60 - 80

STRATEGICChief Strategy Offi cer Director/AVP

Associate

Director/

Senior Manager Manager Analyst

Hong Kong 2,500 - 2,800 1,400 - 2,200 900 - 1,400 600 - 850 280 - 540

Japan 15 - 20 12 - 20 8 - 15 6 - 10 5 - 10

Malaysia 300 - 420 240 - 300 156 - 240 84 - 156 56 - 120

Singapore 230 + 180 - 230 140 - 180 90 - 130 60 - 80

OPERATIONS COO Senior Manager Manager

Assistant

Manager

Hong Kong 1,800 - 2,500 700 - 950 540 - 720 420 - 540

Japan 15 - 30 12 - 18 8 - 12 6 - 10

Malaysia 420 + 180 - 288 120 - 216 72 - 120

Singapore 200 - 250 140 - 200 90 - 140 70 - 90

PRODUCT MANAGEMENTHead of Products

Senior Product

Development

Manager

Product

Manager

Assistant

Manager

Hong Kong 1,800 - 2,500 780 - 1,080 500 - 720 330 - 460

Japan 14 - 20 10 - 15 8 - 12 6 - 10

Malaysia 180 - 264 120 - 180 96 - 156 72 - 90

Singapore 170 - 300 120 - 150 100 - 150 70 - 80

COMPLIANCE

Chief ComplianceOffi cer

Head of

Compliance/

AVP

Compliance

Director

Senior

Manager Manager

Assistant

Manager

Hong Kong 2,200 - 2,600 1,300 - 1,800 960 - 1,300 720 - 960 540 - 720 480 - 540

AUDIT Chief Auditor

Head of

Audit/AVP

Audit

Director

Senior Audit

Manager

Audit

Manager

Assistant

Audit

Manager

Hong Kong 2,200 - 2,600 1,300 - 1,800 1,100 - 1,600 720 - 960 540 - 780 480 - 540

RISK Chief RiskOffi cer Head of Risk Risk Director

Senior Risk

Manager Risk Manager

Assistant

Risk Manager

Hong Kong 2,200 - 2,600 1,300 - 1,800 960 - 1,400 720 - 900 540 - 720 456 - 540


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MAINLAND CHINA

THE 2019 FORECAST FOR MAINLAND

CHINA IS HEALTHY ACROSS BOTH

PRIVATE PRACTICE AND CORPORATE

LEGAL DEPARTMENTS

In the private practice sector, competition for candidates amongst international and domestic law firms is escalating, with the latter looking to develop their capabilities by becoming increasingly involved in international projects and offering highly competitive compensation packages to secure top legal talent.

Conversely, MNCs are predicting slower business growth. However, due to the continuous change and increasing complexity of Chinese corporations, candidate demand remains high as the necessity to manage risk, regulatory and other business legislations endures.

GLOBAL EXPANSION TO REQUIRE

UPPER-LEVEL RECRUITMENT

As they develop and expand their global footprint, the bulk of legal hiring for Chinese corporations will predominantly consist of mid to senior-level legal experts, driven by the need to assist corporations in the building up of their international legal teams’ capabilities.

Additionally, following the introduction of the Cybersecurity Law and the amendments to the Anti-Unfair Competition Law in 2017 and 2018 respectively, there will be another peak in the demand for IP, general commercial and compliance lawyers in Mainland China over the coming year. Another area seeing heightened demand is e-commerce lawyers due to the rapid rise and evolution of technological companies in Mainland China.

TOP LEGAL TALENT WILL RECEIVE

NUMEROUS COMPETETIVE OFFERS IN

2019

In terms of compensation and salary, private practice companies are set to increase their levels in 2019, particularly amongst successful firms anxious to resist an exodus of exceptional talent to competitors or in-house corporate roles. The demand for top legal talent, especially at mid-level, will be extremely competitive over the year ahead. Legal candidates are likely to receive multiple offers where

salary and benefits will bear considerable influence on their decision-making process, though final decisions will often be based on industry type and company culture

With these candidates in such demand, 2018 saw an increase in the number of counteroffers made by firms, a practice that is set to not only continue, but become an industry standard in the year ahead.

HONG KONG

UNSURE MARKET PROJECTIONS MEANS

HIRING WILL COME PREDOMINANTLY

FROM LARGER CORPORATIONS

Recruitment predictions for Hong Kong’s legal industry in 2019 are relatively stable, following on from a strong performance in 2018.

With market conditions unstable, this year we expect the bulk of legal hiring to come from large corporate organisations and major financial institutions. In terms of new industries, fintech is an area worth monitoring as the ever-changing regulatory landscapes will make for an animated legal recruitment market.

THE GOLDEN ERA OF DISPUTE

As has consistently been the case, corporate M&A lawyers were the most in demand throughout 2018, a state that is unlikely to change over the coming year. Fintech and TMT lawyers — especially those with privacy or payments experience — will also be highly sought after, and in the realm of private practice, there is an indication that we are entering the golden era of dispute as we face the uncertain and challenging global conditions of the coming year.

SALARIES CONTINUE TO ROCKET AS

TALENT SHORTAGES PERSIST

Competition for candidates in the key areas is likely to be fiercer than ever in 2019, especially for those with both regional and local experience, have between four and ten years Post-Qualified Experience (PQE) and are tri-lingual in English, Cantonese and Mandarin.

Due to the difficulty inherent in finding exemplary talent, salaries on the whole have increased as companies offer financial incentives in order to protect

LEGAL

against talent migrating to a direct competitor or similarly-natured businesses.

JAPAN

HIRING ACTIVITY IN COMPLIANCE WILL

CONTINUE TO INCREASE IN 2019

Legal and compliance recruiting boomed through 2018, a situation that is expected to continue into the coming year and beyond as laws on data privacy and compliance in both Japan and further afield are tightened.

Private practice recruitment has dropped somewhat in recent years, especially at foreign firms; however, 2019 is likely to see a number of Japanese international law firms look to expand on their success and, concurrently, headcounts.

HIRING FLEXIBILITY TO INCREASE AS

GENERAL DATA PROTECTION

REGULATION (GDPR) IS IMPLEMENTED

With enforcement of GDPR coming into practice in 2018 there has been a trend for companies rushing to fill positions in related fields, increasing the demand for candidates knowledgeable in the area. This expansion of compliance and data privacy teams is expected to intensify in 2019.

Thanks to a combination of an increase in available positions and the ongoing demand for suitable candidates, we expect to see more flexibility in hiring from 2019 compared to previous years in both headcount numbers and candidate requirements.

“The rapid rise and evolution of technological companies in Mainland China is creating huge demand for e-commerce lawyers.”


MALAYSIA

MALAYSIA’S LEGAL SECTOR IS LOOKING

TOWARDS HEALTHY GROWTH IN THE

COMMERCIAL SECTOR

Malaysia’s legal sector in 2018 bore witness to a number of dramatic changes, a situation that promises healthy developments for 2019. Looking to deter the near-inevitable move in-house at the third or fourth year PQE level — a time at which companies in both the commercial and financial sectors find it it difficult to match the disparity of high salary and low professional qualification experience — the private practice sector continues to set an above-market salary range for first year legal associates, with handsome yearly increments and performance bonuses.

INCURSION OF CHINESE CONSTRUCTION

DRIVING COMMERCIAL HIRES

In the commercial sector, more and more Chinese construction companies are hiring legal personnel as they increase their presence in the Malaysian construction landscape.

Within the finance sector, the Central Bank has implemented strict governance guidelines resulting in the separation of the insurance industry distinctly into general and life insurance. This trend has consequentially been reflected in the market with insurance companies hiring a greater number of company secretaries than previously. This is likely to continue to do so over the coming years.

COMPANIES LACK HESITANCY IN

OFFERING SUPERLATIVE CANDIDATES

COMPETITIVE COMPENSATION

No matter the level of candidate required, companies in both sectors are proving extremely competitive in their attempts to attract the top talent. Although salary levels often vary from company to company, once the perfect candidate is identified, organisations show little reluctance in compensating them.

With the formation of a new government in 2018, swingeing changes were enacted, not just at a regulatory level, but also with critical personnel reorganisation in positions at both the Attorney-General’s Chambers and within the Central Bank. As

a result, the Malaysian legal landscape is taking a dramatic turn.

SINGAPORE

CAUTION AND STABILITY LIKELY TO

TYPIFY SINGAPORE’S LEGAL SECTOR IN

2019

Legal recruitment in Singapore is expected to stabilise in 2019, with significant salary changes unlikely in most areas.

Whilst most international law firms are cautious in their hiring of associates and senior associates, some have identified areas such as M&A and international arbitration as their hiring targets for 2019.

CANDIDATES MOVING AWAY FROM

PRIVATE PRACTICE SOONER RATHER

THAN LATER

In a deviation from historical norms, candidates are showing a keen interest in moving in-house at just one or two years PQE as opposed to the five years as previously been the standard. Companies are also more open to taking junior candidates straight from private practice.

IN-HOUSE CANDIDATES INCREASINGLY

REQUIRE NICHE SKILLS OVER GENERAL

KNOWLEDGE

Comparable to 2018, we continue to see demand for candidates skilled in Mandarin and Bahasa Melayu, given that most regional in-house positions based in Singapore cover Southeast Asia and Greater China. Additionally, demand for lawyers in specialist areas such as construction, intellectual property, and banking and finance remains high, especially with in-house lawyers beginning to specialise internally within their teams. Lawyers who move in-house are expected to be more than a ‘generalist’, and typically bring with them knowledge of a niche area in which they hold expertise.

From 2023, law graduates wanting to become practising lawyers will be required to complete one year of practice training with a firm following their passing of the Singapore Bar examinations, up from the current six months. The second part of the exam will also be more stringent, and with these factors combined there is a likelihood that in the future, we will see

more graduates eschewing practice in law firms and instead choosing to head directly in-house as junior lawyers.

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“From 2023, law graduates in Singapore will be required to complete one year of practice training if they wish to become a lawyer.”

Source: law.com

Japan led M&A activity across Asia in 2018 which

was their strongest year in nearly four decades.


NOTES


• Private Practice Associate salaries stated are generally representative of the total package value

• Typical benefi ts on top of in-house salaries and salaries for paralegals in private practice include performance based bonuses and overtime allowances

LEGAL

COMMERCIAL IN-HOUSE Paralegal

Junior

Legal Counsel

(0-3 PQE)

Legal Counsel

(4-6 PQE)

Legal Counsel

(7-10+ PQE)

Senior Counsel

(10+ PQE)

General

Counsel

Mainland China 120 - 200 200 - 360 350 - 700 600 - 1,200 750-1,500 1,200 - 4,000

Hong Kong 180 - 840 500 - 1,120 750 - 1,650 1,150 - 1950 1,500 – 2,400 1,800 - 3,000

Japan 4 - 6 5 - 8 8 - 15 10 - 18 14 - 20 17 +

Malaysia 48 - 60 38 - 60 54 - 96 108 - 132 120 - 360 300 - 540

Singapore 52 - 65 52 - 91 104 - 130 130 - 156 156 - 250 350 - 500

FINANCIAL SERVICES IN-HOUSE Paralegal

Junior

Legal Counsel

(0-3 PQE)

Legal Counsel

(4-6 PQE)

Legal Counsel

(7-10+ PQE)

Senior Counsel

(10+ PQE)

General

Counsel

Mainland China 150 - 250 220 - 600 500 - 860 800 - 1,300 1,000 - 2,000 1,500 - 3,000

Hong Kong 375 - 900 750 - 1,395 1,100 - 1,950 1,500 - 2,400 1,850 - 2,700 2,550 - 4,000

Japan 4 - 8 6 - 14 9 - 18 15 - 20 15 - 32 22 - 40

Malaysia 30 - 54 42 - 72 54 - 96 90 - 180 180 - 300 660 +

Singapore 52 - 65 52 - 91 104 - 130 150 - 200 300 - 450 500 +

PRIVATE PRACTICE Paralegal Newly qualified 1 year PQE 2 years PQE 3 years PQE

Mainland China (International Firm) 180 - 360 480 - 1000 560 - 1,040 620 - 1,230 750 - 1,300

Mainland China (PRC Firm) 120 - 240 200 - 350 200 - 400 250 - 500 300 - 550

Hong Kong (International Firm) 240 - 840 980 - 1,092 1,050 - 1,190 1,162 - 1,302 1,232 - 1,372

Hong Kong (NY/US Firm) 240 - 980 2,028 + 2,303 + 2,385 + 2,574 +

Japan 4 - 8 5 - 10 6 - 12 7 - 13 8 - 14

Malaysia 38 - 60 48 - 60 55 - 65 52 - 70 60 - 81

Singapore 48 - 60 60 - 72 78 - 90 84 - 102 96 - 120

4 years PQE 5 years PQE 6 years PQE 7 years PQE 8 years PQE

Mainland China (International Firm) 800 - 1,410 900 - 1,530 1,000 - 1,620 1,100 - 1,710 1,200 - 1,840

Mainland China (PRC Firm) 350 - 600 450 - 700 500 - 750 600 - 800 650 - 900

Hong Kong (International Firm) 1,260 - 1,540 1,344 - 1,680 1,512 - 1,820 1,610 - 1,890 1,750 - 2,170

Hong Kong (NY/US Firm) 2,903 + 3,138 + 3,372 + 3,560 + 3,842 +

Japan 8 - 15 10 - 18 10 - 20 10 - 22 12 - 25

Malaysia 66 - 84 70 - 96 75 - 108 80 - 114 90 - 114

Singapore 108 - 130 108 - 132 120 - 144 132 - 156 170 +

Salaried

Partner

(Junior)

Salaried

Partner

(Senior)

Professional

Support

Lawyer

Mainland China (International Firm) 1,860 + 3,100 + 600 - 980

Mainland China (PRC Firm) 1,500 + 2,500 + 600 - 800

Hong Kong (International Firm) 2,500 + 3,000 + 950 - 1,500

Hong Kong (NY/US Firm) 4,000 + 5,000 + 950 - 1,500

Japan 16 + 20 + 11 +

Malaysia 120 - 180 240 + 144 - 180

Singapore 180 - 250 300 + 75 - 96


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“Long established companies are maintaining superiority over fl ourishing start-ups and biotech companies by creating partnerships with university hospitals and laboratories for drug development in Japan.”

MAINLAND CHINA

MAINLAND CHINA’S AGEING

POPULATION SEES THE LIFE SCIENCES

INDUSTRY RIPE WITH INVESTMENT

OPPORTUNITIES

Following the biotech boom, the life sciences industry in Mainland China has intensified, resulting in a heightened demand for scientists and entrepreneurially-inclined individuals in a number of areas. With continued governmental support encouraging life science innovation, biotech has become a focal point in government’s latest Five-Year Plan.

ONCOLOGY AND CHRONIC DISEASES

ATTRACTIVE AS INVESTMENT

PORTFOLIO SOURCES

With the opportunities afforded by Mainland China’s unmet medical needs and ageing population, Chinese investors looking to diversify their portfolios away from property and manufacturing have been encouraged by the potential for growth inherent in the life sciences industry, and the areas of oncology and chronic diseases have proved particularly attractive. The majority of investment is going towards the financing of innovative biotechs leading to a hiring frenzy in the industry, thereby positively impacting candidate salary packages.

HIRING IN CRO TO RISE IN 2019

The contract research organisation (CRO) sector in Mainland China will continue to grow rapidly over the next five years driven by pharmaceutical companies’ enhanced spending on R&D and more comprehensive service platforms that integrate the discovery and development of small-molecule chemical drugs. Meanwhile, domestic pharmaceutical companies have also begun placing great importance in standardised operation procedures. As such, hundreds of CRO companies are set for expansion in the coming year, leading to sizable opportunities for talent in this field.

HONG KONG

HONG KONG’S STATUS AS MNCS’ ACCESS

POINT TO THE APAC REGION AND

GOVERNMENTAL INVESTMENT IS SEEING

MODERATE TO HIGH SALARY GROWTH

FOR CANDIDATES

Hong Kong continues to see strong requirement for healthcare professionals in the pharmaceutical, medical devices and biotechnology sectors.

Demand for medical affairs professionals in the pharmaceutical sector will remain high, driving above average wage growth within a limited talent pool. By contrast, necessity for other technical and clinical research professionals has declined and we expect moderate salary growth for mid-level candidates. However, mid to senior-level hires with strong local healthcare networks and successful career track records can expect to command higher salaries.

With several government-funded projects underway, Hong Kong’s biotechnology sector is growing exponentially, intensifying the demand for R&D scientists. Salary levels are expected to remain high for candidates with PhD qualifications and specialised research experience.

CANDIDATES WITH REGIONAL

EXPERIENCE IN DEMAND FROM SMES

As Hong Kong provides an ideal vantage point from which global healthcare providers can access other markets within the APAC region there will be increased demand for candidates with regional experience. In particular, healthcare SMEs are seeking out candidates to pioneer business development strategies or manage distributor relationships in the APAC region. Consequently, salaries for skilled talent in the field are expected to grow. Furthermore, the consumer healthcare and medical device sectors will see salaries for sales and marketing professionals increase as their markets swell.

JAPAN

DESPITE THE RECENT SURGE IN START-

UPS, ESTABLISHED COMPANIES RETAIN

THEIR HIRING POWERS AS JAPAN’S

AGEING SOCIETY DRIVES UP

HEALTHCARE COSTS

Facing a rapidly ageing society, Japan’s life sciences industry is adjusting to the consequences of a growing and increasingly costly healthcare sector.

Long established companies are maintaining their superiority over flourishing start-ups and biotech

companies by creating partnerships with university hospitals and laboratories for drug development. In addition, medical device companies are investing heavily in cardiology neurology and diagnostics, with IVD in particular.

SUPERLATIVE BILINGUAL CANDIDATES

ATTRACTING HIGHER SALARIES

The majority of pharmaceutical and medical device companies in Japan are facing critical hiring needs across all divisions, with upward pressure placed on salaries for top bilingual talents in this attractive yet competitive market. However, proving the cost effectiveness of their business models remains with challenge.

Consequently, pharmaceutical companies are prioritising key headcounts such as clinical project managers to lead trials in areas with strong potential for growth, especially in oncology, immuno-oncology and the treatment for rare diseases. Other positions such as regulatory affairs and quality assurance remain in high demand.

MEDICAL DEVICE SECTOR AND PHARMA

COMPANIES TO SEE FURTHER GROWTH

AND MORE RECRUITMENT

Salary increases remain modest within commercial functions, though most companies will continue to hire experienced product managers while strengthening their business intelligence,

LIFE SCIENCES


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strategic planning and commercial excellence teams. Moreover, pharmaceutical companies will increasingly rely on CSOs to hire MRs, while medical device companies will be looking to augment their sales teams in 2019.

Medical divisions of pharmaceutical companies will continue to enjoy substantial growth, with multiple hires in medical affairs, medical science liaisons and evidence generation based on real world evidence (RWE). Salaries being offered are predominantly on the rise, especially for PhD holders and medical doctors.

MALAYSIA

STRONG DEMAND IN THE OVER-THE-

COUNTER (OTC) SECTOR IS BEING

ENCOURAGED BY DEVELOPMENTS IN

NICHE THERAPY

We have witnessed a dramatic undertaking of M&A activity amongst clinical research and pharmaceutical companies. For consumer health and OTC products, the business remains sustainable and there is a continuous demand for talent. As a result, fresh graduates enjoy high basic salaries above the market rate in this field. To cope with the demand, companies are making a concerted effort to stay competitive in retaining their valuable employees as well as attracting prospective candidates.

CANDIDATES RECRUITED BY GLOBAL

GENERIC FIRMS HOLD POWER IN

SALARY NEGOTIATIONS

Global generic drug companies have developed rapidly in niche therapy areas such as oncology and vaccination. For a society as health and price conscious as Malaysia, affordable treatment is essential, prompting the need to improve efficiencies and cost effectiveness. Talent

with experience in this area hold leverage during salary negotiations.

Technical and commercial roles for other niche therapy areas including medical affairs, regulatory affairs, product management and product specialists are highly sought after in 2019. In this talent-short market companies are compelled to offer premium salaries to both active and passive candidates.

SINGAPORE

THANKS TO GOVERNMENTAL SUPPORT,

PHARMACEUTICAL START-UPS ARE

SEEING IMPRESSIVE GROWTH

On the commercial front, pharmaceutical sales representatives continue to be in demand as both pharmaceutical MNCs and start-ups vie to attract the best sales talent to represent their portfolios in this competitive landscape.

For prominent pharmaceutical companies, the threat from patent cliffs will continue to be a primary concern in 2019, while for smaller pharma companies and distributors the increase in the popularity of orphan drugs opens up a number of business opportunities. We expect to see more hiring activity from these companies in the coming year.

BIOTECH CANDIDATES IN DEMAND,

WHILE DIAGNOSTICS COMPANIES FOCUS

ON AUTOMATION

Biotechnology is also on the rise, and thanks to strong governmental support local biotech start-ups flourished in 2018. With more than 79 home-grown biotech firms, talent in the clinical and commercial fields will be in demand in the coming year as their research findings begin to bear commercial fruits.

The in-vitro diagnostics sector is growing

impressively, with regional centres for international companies expanding. Companies are focused on growing automation and IT support for their existing diagnostic services to provide holistic services to hospitals and research centres. Being a nascent area, talent is in short supply and companies strive to be competitive in their job offers.

SINGAPORE CONTINUES TO BE THE KEY

LOCATION FOR GLOBAL

MANUFACTURING HUBS

Singapore remains the leading location for world-class manufacturing plants in which many new inventions are developed, and companies are focused on having the latest technologies in their plants as well as attracting the best talent. Industry leaders continue to maintain their global manufacturing hubs in Singapore for a wide range of products including APIs and biologics.

“We have witnessed a dramatic undertaking of M&A activity amongst clinical research and pharmaceutical companies in Malaysia.”

LIFE SCIENCES

Top challenges facing health care stakeholders

Shaping the workforce of

the future

Creating a positive margin in an uncertain and changing

health economy

Engaging with consumers and improving the

patient experience

Responding to health policy and complex regulations

Strategically moving from

volume to value

Investing in exponential

technologies to reduce costs,

increase access and

improve care

Key issues in global health care

Source: 2018 Global health care outlook | The evolution of smart health care, Deloitte


NOTES



LIFE SCIENCES

COMMERCIAL

Country

Manager Sales Director Medical Rep

Account

Manager

Area Sales

Manager

Mainland China 2,000 - 4,000 900 - 1,500 100 - 300 300 - 500 350 - 600

Hong Kong 1,300 - 2,500 900 - 1,200 180 - 325 350 - 480 480 - 715

Japan 18 - 30 12 - 18 5 - 11 6 - 12 10 - 15

Malaysia 400 - 600 250 - 350 40 - 60 80 - 120 90 - 140

Singapore 250 - 350 180 - 250 40 - 75 60 - 85 80 - 120

Regional

Sales Manager

Product

Manager

Marketing

Associate

Marketing

Manager

Marketing

Director

Mainland China 500 - 800 350 - 550 150 - 300 600 - 800 900 - 1,700

Hong Kong 530 - 850 450 - 850 195 - 360 585 - 975 900 - 1,300

Japan 12 - 18 7 - 12 5 - 7 10 - 14 14 - 20

Malaysia 150 - 180 80 - 130 45 - 60 150 - 200 250 - 350

Singapore 120 - 160 80 - 140 40 - 60 120 - 160 180 - 240

Business

Development

Manager

Business

Development

Director PR/Corp Comm

Mainland China 500 - 800 900 - 1,800 300 - 600

Hong Kong 520 - 850 900 - 1,300 325 - 600

Japan 10 - 14 12 - 18 8 - 15

Malaysia 100 - 150 200 - 300 100 - 200

Singapore 90 - 140 180 - 250 70 - 150

SFE Specialist

Medical

Information

MSL

(Commercial)

Clinical

Specialist

Mainland China 150 - 220 150 - 350 200 - 500 200 - 400

Hong Kong 240 - 390 156 - 360 325 - 585 350 - 600

Japan 8 - 12 5 - 12 7 - 12 6 - 9

Malaysia 50 - 80 N/A 80 - 120 80 - 120

Singapore 70 - 100 90 - 200 70 - 100 70 - 120


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LIFE SCIENCES

Medical Aff airs

Offi cer

Medical Aff airs

Manager

Medical Aff airs

Director

Drug Safety

Manager

Drug Safety

Senior Specialist

Mainland China 260 - 400 450 - 700 850 - 1,300 350 - 450 150 - 250

Hong Kong 325 - 455 620 - 880 910 - 1,500 455 - 715 195 - 416

Japan 8 - 14 12 - 25 15 - 35 10 - 15 8 - 11

Malaysia N/A 120-180 210 - 290 N/A N/A

Singapore N/A 140-180 250-300 120-150 70-100

TECHNICAL

Good Clinical

Practice

Manager

Good

Manufacturing

Practice Mgr

Good Laboratory

Practice

Manager

Quality Control

Manager

Pharma-

covigilance

Manager

Mainland China 350 - 450 350 - 450 300 - 400 200 - 500 300 - 500

Hong Kong 455 - 650 455 - 650 455 - 650 390 - 650 455 - 715

Japan 10 - 16 10 - 12 10 - 12 10 - 12 10 - 18

Malaysia N/A N/A N/A 100 - 220 100 - 220

Singapore 125 - 160 80 - 115 65 - 95 80 - 120 80 - 120

Regulatory

Aff airs Staff

Regulatory

Aff airs

Manager

Regulatory

Aff airs

Director

Scientifi c

Aff airs

Manager

Clinical

Research

Associate

Mainland China 140 - 280 300 - 600 800 - 1,300 N/A 100 - 200

Hong Kong 195 - 390 416 - 750 880 - 1,200 520 - 720 286 - 416

Japan 5 - 9 8 - 14 16 - 22 10 - 14 4 - 6

Malaysia 60 - 100 100 - 200 200 - 300 75 - 120 42 - 60

Singapore 60 - 90 80 - 140 150 - 240 75 - 120 50 - 70

Senior Clinical

Research

Associate

Clinical

Research

Manager

Project

Manager

Study

Monitor

Clinical

Research

Director

Mainland China 200 - 350 350 - 600 350 - 600 250 - 400 700 - 1,200

Hong Kong 455 - 620 585 - 845 585 - 900 240 - 416 910 - 1,300

Japan 6 - 9 12 - 16 12 - 20 6 - 8 14 - 25

Malaysia 60 - 90 84 - 110 84 - 110 N/A 350 - 500

Singapore 70 - 110 90 - 160 90 - 160 50 - 70 150 - 200

Data

Management

Specialist

Data

Manager

SAS

Programmer

BioStatistic

Manager Scientist

Mainland China 100 - 200 200 - 500 100 - 400 400 - 600 200 - 300

Hong Kong N/A N/A N/A N/A 260 - 494

Japan 6 - 10 10 - 12 6 - 10 7 - 12 6 - 8

Malaysia N/A N/A N/A N/A 48 - 60

Singapore 60 - 70 70 - 90 60 - 90 120 - 150 50 - 80


NOTES



LIFE SCIENCES

Application

Specialist

Technical

Support

Specialist

MSL

(Scientifi c)

HEOR/

Market Access

Staff

HEOR/

Market Access

Manager

Mainland China 100 - 200 100 - 300 150 - 350 250 - 400 400 - 700

Hong Kong 325 - 550 180 - 336 325 - 585 325 - 520 520 - 845

Japan 4 - 9 4 - 8 9 - 15 5 - 8 8 - 14

Malaysia 40 - 70 48 - 80 80 - 150 72 - 96 120 - 200

Singapore 39 - 78 52 - 85 75 - 180 130 - 230 230 - 300

HEOR/

Market Access

Director

CMC

Specialist Lab Director Lab Manager Lab Staff

Mainland China 800 - 1,200 100 - 200 500 - 800 300 - 450 100 - 300

Hong Kong 910 - 1,300 N/A 540 - 840 360 - 600 180 - 336

Japan 14 - 25 8 - 12 12 - 16 8 - 13 4 - 7

Malaysia 200 + N/A 102 - 145 78 - 102 25 - 48

Singapore 250 + 180 - 250 104 - 156 65 - 105 39 - 65

Biology

Scientist

Medicinal

Chemist

Translational

Services Scientist

DMPK/

Pharmacology

Scientist

Mainland China 200 - 400 100 - 300 200 - 400 200 - 400

Hong Kong 300 - 550 360 - 600 N/A N/A

Japan 4 - 8 4 - 8 7 - 12 7 - 12

Malaysia 60 - 120 62 - 120 N/A N/A

Singapore 65 - 156 70 - 180 N/A 65 - 156

TECHNICAL

Senior

Scientist

Principal

Investigator

Research &

Development

Director Physician Medical Writer

Mainland China 350 - 500 600 - 1,300 850 - 3,000 400- 700 150 - 350

Hong Kong 455 - 550 600- 1,300 850 - 3,000 N/A 325 - 650

Japan 8 - 10 12 - 17 18 - 30 13 - 25 6 - 12

Malaysia 60 - 90 N/A 198 + N/A N/A

Singapore 80 - 90 90 - 120 120 - 150 150 - 250 70 - 90


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MAINLAND CHINA

CONCERNS OVER TIGHTENED MONETARY

POLICIES AND IMPENDING TRADE WARS

TO BE OFFSET BY GROWTH IN A NUMBER

OF PROMINENT AREAS

In 2018 the economic media was primarily occupied by reports related to the trade war between Mainland China and the USA. However, while we did witness some adjustments in the manufacturing sector, we believe that most changes have resulted from Mainland China’s own initiatives to enhance its labour-intensive manufacturing capacity and further tighten monetary policy. As predicted in the 2018 Asia Salary Guide, the active sub-industries of electrical vehicle, semiconductor, smart manufacturing and medical devices have grown steadily and will continue to do so.

In the consumer sector, several prominent M&A deals have sparked activity as MNC giants diversify their portfolios to offset the risk posed by the fast-changing consumer market. Meanwhile, their domestic competitors are also proving aggressive in attracting talent and we expect this intense competition to continue in 2019.

The areas of product development and quality are still in appreciable demand, and candidates in these functions could conservatively expect to see 20 to 30 per cent salary increases by taking roles at a different company. In the meantime, we have seen a significant increase in usage of more natural ingredients, creating a sizeable demand for B2B sales talent that can promote these products to food manufacturing and food service channels.

SEMICONDUCTORS AND ELECTRIC

VEHICLES ARE DRIVING

MANUFACTURING

The development of semiconductors remains the number one consideration within the electronics segment and has progressed from new factories to R&D functions, especially for chips used in artificial intelligence (AI) application. A number of start-up companies established with funding from major tech giants in Mainland China are aggressively pursuing top talent, and candidates in the chip design area will find that the job market is

quite open, perhaps receiving salary increment offers in excess of 50 per cent.

For companies looking to recruit in the enduringly candidate-short market of experienced design engineers, we recommend that they review and adjust their compensation and benefits for talent in this area, make quick decisions on hiring and have their own internal development plans for future talent pipelines.

The automotive industry is still one of the fastest growing in Mainland China, despite the slowdown of new vehicle sales in both traditional and electric vehicles (EVs). In spite of this downturn, there can be no doubt that manufacturers still believe that the future lies in EV, with all major original equipment manufacturers (OEMs) announcing their product roadmap for electrical lines.

Most tier-one and tier-two suppliers have set up dedicated product development teams to keep up with the trend, meaning that all manufacturers have a pressing need for R&D talent, and as enticements for companies to setup their R&D functions in Mainland China, some provinces have gone as far as offering government subsidies to support such moves. Sales candidates with successful records working with major EV manufacturers are coveted by all companies, and salary increments may comfortably reach, and even surpass, 30 per cent, which is quite some way above most other functions in the auto industries.

MNC EXPANSION AND GOVERNMENT

ENVIRONMENTAL CHECKS GIVE

CANDIDATES NEGOTIATION POWER

2018 was a relatively uneventful year for the chemical and materials industry, and while most MNCs enjoyed moderate success in the area, their local competitors were hindered by strict environmental inspections. With some MNCs looking to expand by undertaking aggressive M&A tactics project managers, process improvement and quality professionals are all sought after. In other areas, companies from a variety of industries are on the lookout for environment, health and safety (EHS) candidates from the chemical sector that can assist them in passing government environmental inspections. As a result, EHS has become a trending function, and will continue to be so through 2019.

Overall, we expect 2019 to be an interesting year. A number of prominent specialisms will continue their momentum leading companies to persist in their aggressive hiring strategies, however other sectors are likely to face less positive adjustments. Candidates in trending markets will find that they have strong bargaining power when it comes to salary package negotiations, although those operating elsewhere may need to moderate their expectations.

JAPAN

JAPAN’S MANUFACTURING AND

OPERATIONS SECTOR IS BOOMING, AND

ONLY A CANDIDATE SHORTAGE CAN

HOLD IT BACK

With continued demand coming from both overseas and domestic markets, 2018 was a year of substantial growth for almost all Japanese manufacturing sectors, particularly in the semiconductor, automotive, aerospace and vessel manufacturing areas. With yet more companies increasing capital investment in recent years, we foresee heathy business projections for 2019.

Key to this has been the national government support of both local governments and private enterprises to take advantage of national strategic special zones — such as R&D in the Greater Osaka area, and automatic automobile R&D in Aichi Prefecture — as well as the deregulation of a number of industries across Japan to boost both innovation and future demands. Due to its prevailing success the policy will be reinforced in 2019.

Employee attitudes towards work-life balance saw a decisive shift in 2018. This change in the workplace perspective, further reflected by an alteration in wider societal norms, has transformed how mobile candidates are likely to act when it comes to relocation, with an increasing number of candidates taking their family with them if moving is required for a role.

MANUFACTURING & OPERATIONS


IN A CANDIDATE-SHORT MARKET,

FLEXIBILITY IN CANDIDATE

REQUIREMENT IS ESSENTAIL

Despite the palpable positivity in the industry, the potential for maximum future economic growth is being stymied by concerns surrounding future human resource demands related to population decline, an ageing society and restrictive immigration policies. In order to counter this, political entities and private corporations have been pursuing a number of strategies that they hope will create more flexibility including the creation of a draft plan that will relax work-permission visa policies, as well as attracting more skilled candidates from overseas by offering unconventional salary packages outside of their current HR practices.

Another noticeable change is in the way that a significant number of global companies are looking to rejuvenate their organisation by actively hiring young candidates. However, due to the aforementioned human resource demands there is a distinct gap between the type of candidates required and those who are available in the market. Just a small number of organisations have adopted rational hiring practices, taking skilled candidates regardless of age and Japanese-language skills.

A YEAR OF NEW ACTIVITY

HIGHLIGHTING OLD CHALLENGES

In the year ahead there will be great focus on the G20 Osaka summit in June, the rise of the consumption tax rates in October and the acceleration of infrastructure and the associated demands of the 2020 Tokyo Olympics. As such, there is much demand placed on the manufacturing & operations sectors, leading to further recruitment challenges, and companies may have to temper candidate requirements — such as accepting mature talent or candidates from overseas — or raise salary ranges to better attract the most highly-coveted individuals.

MALAYSIA

WITH THE KEY AREA OF

SEMICONDUCTORS SET TO GROW AND

THE EXPANSION OF PLANTS,

MALAYSIA’S MANUFACTURING &

OPERATIONS INDUSTRY IS LOOKING

FORWARD TO ANOTHER YEAR OF

ADVANCEMENTS

The industry is poised for further growth in 2019, part in thanks to the expansion and set up of a great number of plants over the previous 12 months. Ultimately, this will create further job opportunities for both domestic and international candidates in Malaysia, where technical and leadership skillsets will be the predominant requirements for hiring companies.

CANDIDATES IN KEY AREAS CAN

LEVERAGE INDUSTRY DEMAND TO THEIR

ADVANTAGE

In light manufacturing, the semiconductor industry remains key to the economy and is likely to continue its expansion. As a result, it is expected that candidates specialising in the industry’s primary functions, including R&D, process and quality, will have a superior bargaining power with regards to salary.

The medical device, pharmaceutical and FMCG industries, on the other hand, will stabilise in 2019 having previously been through their own periods of expansion. Within these industries, automation and engineering are the two main sectors currently undergoing advancement, and candidates from these areas will also expect to see higher salary increments.

Within the heavy manufacturing sector the resources industry has taken a plunge in recruitment demand due to turbulent economical change, while we have seen an escalation of talent requirement in the chemical space, predominantly in the maintenance and engineering fields. Candidates operating in these sectors may also expect higher salary increases when switching between companies. Functions within production and operations are seeing a steady increase in replacement positions as candidates seek career-advancing roles within different industries.

CANDIDATES SEEK CAREER

PROGRESSION AND IMPROVED

REMUNERATION

Overall, competition for top candidates amongst employers is intensifying and companies will need to focus on developing more effective attraction

strategies. Major pull factors for candidates are attractive remuneration and benefits packages, clear structures in career pathways, and training and development. Specialised candidates with strong leadership, soft skills and a willingness to upskill others will remain in high demand.

“Within the heavy manufacturing sector the resources industry has taken a plunge in recruitment demand due to turbulent economical change in Malaysia.”

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MANUFACTURING & OPERATIONS

Source: 2018 Global Digital Operations report, PWC

APAC manufacturing companies are championing the

digitalisation and end-to-end integration of their operations at a much faster rate than their

peers in the US and EMEA.


NOTES

MANUFACTURING & OPERATIONS AUTOMOBILE


PRODUCTION Engineer Supervisor Manager Director Vice President

Mainland China 90 - 150 150 - 280 250 - 600 600 - 1,300 1,200 - 2,000

Japan 5.5 - 6 7 - 9 8 - 12 12 - 20 N/A

Malaysia 40 - 70 70 - 90 120 - 180 300 - 360 N/A

ENGINEERING Engineer Supervisor Manager Director

Mainland China 90 - 150 150 - 280 250 - 600 600 - 1,300

Japan 5.5 - 7.5 7 - 9 9 - 12 12 - 20

Malaysia 40 - 70 70 - 90 130 - 200 300 - 360

R&D Engineer Supervisor Manager Director

Mainland China 90 - 250 180 - 300 300 - 700 700 - 1,250

Japan 4.5 - 8 7 - 9 8 - 12 12 - 18

Malaysia 40 - 70 70 - 90 130 - 200 300 - 360

QUALITY Engineer Supervisor Manager Director

Mainland China 90 - 150 150 - 250 250 - 600 550 - 1,200

Japan 5.5 - 7.5 7 - 9 8 - 12 10 - 18

Malaysia 40 - 70 70 - 90 130 - 200 300 - 360

SALES & MARKETING Engineer Supervisor Manager Director Vice President

Mainland China 90 - 150 150 - 300 300 - 700 600 - 1,600 1,000 - 2,000

Japan 6 - 9 9 - 12 8 - 15 10 - 30 N/A

MANAGEMENT ROLES GM

Mainland China 800 - 2,500

Japan 15 - 25


NOTES


MANUFACTURING & OPERATIONS AVIATION

PRODUCTION Engineer Supervisor Manager Director

Mainland China 120 - 180 150 - 300 250 - 600 600 - 1,200

Malaysia 40 - 70 60 - 80 180 - 300 360 - 600

ENGINEERING Engineer Manager Director

Mainland China 150 - 300 400 - 600 600 - 1,200

Malaysia 90 - 120 180 - 300 400 - 600

R&D Engineer Manager Director

Mainland China 200 - 300 300 - 800 700 - 1,500

Malaysia 90 - 120 180 - 300 400 - 600


Mainland China 120 - 250 250 - 350 500 - 700 700 - 900

Malaysia 60 - 90 90 - 120 180 - 240 N/A


Mainland China 180 - 250 250 - 350 350 - 800 700 - 1,500 1,500 - 3,000

MANAGEMENT ROLES GM CTO COO CEO

Mainland China 1,200 - 2,500 1,500 - 2,000 2,400 - 4,000 3,000 - 5,000


NOTES

MANUFACTURING & OPERATIONS CHEMICALS & MATERIALS


MEDICAL DEVICES/PHARMACEUTICAL


Mainland China 120 - 200 150 - 300 300 - 600 600 - 1,200

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360


Mainland China 120 - 180 150 - 300 300 - 500 500 - 1,300

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360


Mainland China 120 - 200 200 - 350 400 - 600 700 - 1,500

Malaysia 40 - 80 60 - 80 180 - 300 400 - 600


Mainland China 140 - 220 240 - 400 400 - 600 700 - 1,500

Malaysia 40 - 80 60 - 80 180 - 300 350 - 600


Mainland China 120 - 200 200 - 350 450 - 650 700 - 1,400

Malaysia 40 - 80 60 - 80 200 - 350 400 - 600

SUPPLY CHAIN Engineer Supervisor Manager Director

Mainland China 120 - 200 200 - 300 350 - 550 700 - 1,300


Mainland China 150 - 250 250 - 450 400 - 800 800 - 1,800

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360


Mainland China 120 - 180 180 - 300 300 - 600 600 - 1,200

Japan 4.5 - 6 7 - 9 8 - 12 12 - 18

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360

SALES & MARKETING Engineer Supervisor Manager Director

Mainland China 150 - 200 200 - 400 350 - 700 600 - 2,000

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15


Mainland China 800 - 2,000 1,500 - 5,000 2,500 - 4,000 4,000 +

Japan 15 - 25 N/A N/A N/A


NOTES

MANUFACTURING & OPERATIONSFMCG



Mainland China 90 - 140 130 - 250 250 - 600 550 - 1,200

Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15

Malaysia 40 - 70 70 - 90 130 - 195 300 - 450


Mainland China 100 - 140 130 - 250 250 - 600 550 - 1,200

Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15

Malaysia 40 - 80 80 - 100 120 - 180 240 - 400


Mainland China 90 - 150 150 - 300 300 - 600 600 - 1,500

Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15

Malaysia 40 - 70 70 - 90 120 - 180 180 - 400


Mainland China 90 - 150 130 - 250 250 - 600 600 - 1,200

Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15

Malaysia 40 - 70 70 - 90 120 - 180 180 - 300

MANAGEMENT ROLES GM COO CEO

Mainland China 800 - 1,800 1,800 - 2,500 1,800 - 3,500

Japan 15 - 50 30 - 50 40 - 60

Malaysia 240 - 600 360 - 650 N/A


NOTES

MANUFACTURING & OPERATIONSHEAVY INDUSTRY



Mainland China 100 - 150 150 - 220 250 - 400 500 - 1,000 1,000 +

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15 N/A

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360 360 - 500

ENGINEERING Engineer Supervisor Manager Director Vice President

Mainland China 100 - 150 150 - 240 300 - 500 500 - 1,000 N/A

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15 N/A

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360 400 +

R&D Engineer Supervisor Manager Director Vice President

Mainland China 120 - 180 150 - 250 300 - 500 500 - 1,000 1,000 - 1,500

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15 N/A


Mainland China 80 - 150 150 - 200 300 - 500 500 - 900

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 60 - 90 90 - 120 120 - 180 240 - 360


Mainland China 120 - 300 200 - 300 400 - 600 700 - 1,000 1,000 - 1,800

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15 N/A


Mainland China 1,000 - 2,000 N/A 1,000 +

Japan 12 - 30 15 - 30 20 - 35


NOTES

MANUFACTURING & OPERATIONSELECTRONICS



Mainland China 100 - 150 130 - 250 200 - 750 700 - 1,200 1000 - 1,800

Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15 N/A

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450 450 - 700

ENGINEERING Engineer Supervisor Manager Director Vice President

Mainland China 100 - 160 150 - 300 250 - 800 750 - 1,500 1,000 - 2,000

Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15 N/A

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450 450 - 700

R&D Engineer Supervisor Manager Director Vice President

Mainland China 100 - 160 150 - 300 250 - 800 750 - 1,500 1,200 - 2,000

Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15 N/A

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450 N/A


Mainland China 100 - 150 150 - 250 250 - 750 700 - 1,500

Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15

Malaysia 40 - 70 70 - 120 180 - 240 300 - 360


Mainland China 100 - 160 140 - 250 200 - 850 800 - 1,500 1,200 - 2,500

Japan 4.5 - 6 7 - 9 9 - 12 12 - 15 N/A


Mainland China 1,000 - 2,000 1,500 - 3,000 2,500 - 3,500 4,000 +

Japan 12 - 30 N/A 20 - 30 20 - 35

PROJECT MANAGEMENT Engineer Supervisor Manager Director

Mainland China 80 - 180 150 - 200 200 - 600 600 - 1,200

Japan 6 - 8 7 - 9 10 - 12 12 - 15

Malaysia 40 - 70 70 - 100 120 - 180 300 - 420

OPERATIONAL EXCELLENCE Lean Specialist Lean Manager

Six Sigma

Specialist

Six Sigma Master

(Black belt)

Mainland China 200 - 300 300 - 700 200 - 400 400 - 1,200

Japan 6 - 8.5 8 - 12 6 - 8.5 10 - 15

Malaysia 80 - 180 180 - 300 180 - 240 300 - 420

SUPPLY CHAIN Engineer Supervisor Manager Director

Mainland China 100 - 180 150 - 250 200 - 700 600 - 1,200


NOTES

MANUFACTURING & OPERATIONSMACHINERY/MECHANICAL



Mainland China 100 - 150 130 - 250 250 - 500 500 - 1,200

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450


Mainland China 100 - 200 200 - 300 300 - 700 700 - 1,200

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450


Mainland China 100 - 220 200 - 300 300 - 700 700 - 1,500

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450


Mainland China 80 - 150 140 - 230 250 - 700 700 - 1,200

Japan 4.5 - 6 7 - 9 8 - 12 12 - 15

Malaysia 40 - 70 70 - 120 180 - 240 300 - 450

SALES Engineer

Supervisor

(Area Manager)

Manager

(Regional Manager) Director Vice President

Mainland China 100 - 200 200 - 300 300 - 800 700 - 1,500 1,000 - 2,500

Japan 5 - 9 N/A 8 - 12 10 - 15 N/A

MARKETING Specialist Supervisor Manager Director Vice President

Mainland China 100 - 200 150 - 300 300 - 700 800 - 1,500 1,000 - 2,500

Japan 5 - 9 N/A 8 - 12 10 - 15 N/A


Mainland China 1,500 - 2,500 2,000 - 3,500 4,000 +

Japan 12 - 30 20 - 30 20 - 40


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MAINLAND CHINA

SOCIAL MEDIA AND ONLINE MARKETING

SECTORS ARE SETTING THE STANDARD

FOR CANDIDATE GROWTH AS

COMPANIES LOOK TO BUILD BRANDS

AND ACCESS NEW CONSUMER STREAMS

Throughout 2018 we saw a steady growth in marketing and digital jobs. The vast majority of hiring activity centred around the online marketing sector, with the positions in content marketing, integrated marketing, digital marketing and social media marketing most prominent. In traditional marketing functions, candidates were expected to have a comprehensive online background rather than purely offline skills, resulting in salary increases for digital marketing professionals, though traditional marketers saw comparatively lower increases, if any at all.

CANDIDATES EXPECTED TO BUILD THEIR

ONLINE BRANDS

In 2019, we are foreseeing further growth for the marketing and digital function. Marketing candidates will be expected to have strong knowledge and experience in new social media channels, marketing technology platforms and consumer touch points where they can quickly build up a strong brand by way of their online and digital presence.

COMPANIES INCREASING ONLINE

VISIBILITY, UTILISING PLATFORMS FOR

CUSTOMER IDENTIFICATION

As companies in Mainland China capture the market in online strategy utilisation, recruitment demand will continue in the areas of digital marketing and social media as well as customer relationship management (CRM), as such functions are essential to assist companies in building their brand presence on online sales channels. With most companies investing more and putting on-going emphasis on online strategies, we see talent shortages in e-commerce marketing, data marketing and CRM, as these roles employ platforms and collected data to identify consumers in areas where they can generate higher sales. We strongly recommend that candidates gain experience in such functions in order to build a strong attractive profile for future opportunities.

HONG KONG

COMPANIES ARE TURNING TO DIGITAL

TRANSFORMATION AS WELL AS

TRANSFORMING THEIR MARKETING

TEAMS

2018 saw companies operating in Hong Kong’s commercial and industrial sector putting an increasing focus on their digital transformation strategies, bringing in a number of digital marketing experts to accompany their traditional marketing teams. As a result, the coming year will see a continuation in demand for candidates in this highly specialised area.

This move represents a significant shift away from times when digital marketing teams would have been a solitary operator, with the new trend requiring departments be composed of a wide range of specialists. These specialists, including CRM, data analytics and customer experience professionals, consist of the expertise companies require in order to create a seamless and consistent customer journey across all channels: the omni-channel integration.

CANDIDATES WITH MAINLAND CHINA

KNOWLEDGE REQUIRED FOR THE

GREATER BAY AREA

Overall, growth in a number of areas in digital marketing is expected. E-commerce experts with knowledge in third-party platforms will be in high demand, as will data analytics and digital data experts. In addition, traditional marketing recruitment remains active, partially driven by increased activity in the Greater Bay Area (GBA). The market is still in need of strong traditional marketers with working experience in Mainland China’s market.

Within the financial and banking sectors, 2018 saw intense focus on customer experience, digital transformation, content marketing and the use of content in customer acquisition and the creation of brand voice.

MARKET CHANGES AND SOCIAL MEDIA

MEAN DATA MONITORING INCREASES

IN VALUE

Digital marketing with an emphasis on social media is still a core marketing strategy, particularly when it comes to the use of using content strategy and social

media platforms to initiate market penetration across all types of banking products in retail, commercial, institutional and investment products.

With an ever-changing market and better-informed customers, the use of data to make marketing decisions is also on the rise, meaning that the utilisation of performance marketing and data monitoring will be a trend in the coming year. Also likely to be of great importance is the way digital technology is shifting the mindset of banking sectors, leading firms to seek out candidates with a product marketing background.

JAPAN

WITH GOVERNMENT ENDORSEMENT,

JAPAN’S MARKETING AND DIGITAL

SECTOR IS BOOMING ACROSS A WIDE

RANGE OF SECTORS

2018 bore witness to a great burst of activity in the market as marketing and communications underwent something of a transformation, with traditional marketing giving way to technology, social media and e-commerce.

Competition for customer engagement has given rise to a number of roles for customer relationship managers, consumer insight analysists, content developers, and digital strategists. The area most affected by this modernisation is the consumer goods industry, in particular the FMCG, food and beverage (F&B), online services, and consumer retail sectors.

MARKETING & DIGITAL

“In Hong Kong, there is still a strong need for traditional marketers with working experience in Mainland China.”


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FMCG LEADS THE WAY AND

MILLENNIALS FLOCK TO ONLINE

MARKETING

The FMCG and F&B industries are the current trailblazers in marketing and digital innovation with the largest teams behind them. The marketing function is is no longer considered a supporting function but has instead become an important strategic aspect of business by providing valuable consumer insight and using data to create brand loyalty, ensure customer retention and drive sales.

Within digital marketing, the online services sector has risen in dominance with the emergence of international companies in the market. This area is proving to be increasingly attractive for young Japanese professionals, although target hires for these MNCs tend to be for IT engineers rather than digital marketing professionals.

CRM IMPORTANT FOR LUXURY RETAIL

AND IT ALIKE

In the luxury retail sector companies are boosting their sales by engaging with customers online as well as investing heavily in digital and CRM, creating their own e-commerce platforms. Also focusing on CRM are IT and industrial areas, where there is a desire to create an online presence for new products despite a primary reliance on traditional marketing strategies.

Digital marketing is, and will remain, a primary focus in Japan until 2020 at the very least, as the Japanese government is strongly encouraging companies to increase their investment and manpower in the digital sphere. Thanks to this endorsement, the industry is likely to continue its growth, particularly as companies recognise it as a faster and more cost-efficient way of reaching both domestic and international consumers.

MALAYSIA

SALARY AUGMENTATION IS BEING SEEN

ACROSS A WIDE RANGE OF SPECIALISMS

IN MALAYSIA’S MARKETING AND DIGITAL

INDUSTRY

As the adoption of new technologies such as Marketo, Saleforce and Unica becomes more commonplace in Malaysia, companies are looking to reap the benefits as quickly as they possibly can. As a result, candidates working in the areas of CRM, campaign analysis and marketing operations will see demand for their skills rise, leading to broader salary ranges.

Another sector seeing intensified candidate demand is performance marketing, where professionals who are able to buy media space, monitor operation times and analyse campaigns are still very much sought after. One explanation for this is that companies lacking in both digital maturity and an understanding of the market are inflating salaries to the benefit of e-commerce talent.

FMCG AND RETAIL MARKETERS SEEK

IMPROVED SALARIES IN FINANCIAL

SERVICES

Salary growth is being seen too in FMCG and retail sectors as candidates abandon

traditional branding and communication roles in favour of the higher remuneration of financial services. With governing bodies making it increasingly difficult for banks to swap allegiances to competitors, ambitious marketers are finding their skills are transferable to the more heavily-regulated though better-funded industry, driving up salaries in the roles they leave behind as FMCG and retail companies compete to retain the remaining talent.

Salary rises are also prominent for sales heads, reflecting the need for e-commerce expansion competency. Companies are seeking digitally literate entrepreneurial talent and are willing to take a risk on start-up profiles.

SOCIAL MEDIA TALENT POOL REMAINS

SHALLOW, THOUGH VALUE TO RISE

In the social media world, we are seeing more content positions materialise, with new roles such as online content editors created. However, the talent pool of candidates able to navigate across all platforms and lead paid and organic social media campaigns is extremely shallow in Malaysia and as such their value will rise.

But despite this concentrated focus on e-commerce and social media, there arestill roles available for traditionalmarketers. These candidates are stillconsidered adept at delivering integratedcampaigns, however they tend to lack thetechnical hands-on experience required toprovide in-house teams the streamlined,cost-saving functions they desire.

SINGAPORE

SINGAPOREAN COMPANIES ARE

SHOWING INCREASING UNDERSTANDING

OF THE ADVANTAGES OF DIGITAL

MARKETING

2018’s boom within Singapore’s fintech industry continues into the coming year, albeit with slightly less intensity, while e-commerce has performed consistentlywell within the region, creating a widerange of new roles in the area. The rapidlyexpanding outsourced food deliveryindustry has created an upsurge indemand for content and insight specialistsas a growing number of providers clamourto grow their customer base.

Education is also a growth area within Singapore, and as the market moves toward online delivery digital marketers in this area are in demand.

DIGITAL IN-HOUSING INCREASING IN

ADVERTISING AND PR SMES

The potential impact that a comprehensive and joined-up digital marketing strategy can have on a company’s ability to gain market share and drive brand recognition is gaining greater acknowledgement, and this realisation is leading to a growing trend for the in-housing of these capabilities. However, hiring amongst large agencies remains stagnant, though there has been marginal growth within the advertising and PR industry from SMEs.

MNC BROADCASTERS SHIFTING FOCUS

AWAY FROM TV AND TOWARDS ONLINE

Traditional marketing areas remain relatively flat and the broadcasting

industry continues to face a number of challenges. Primary amongst these is that advertising sales revenue is moving away from TV and into online channels at a faster pace month-on-month, and MNC broadcasting conglomerates are realigning both their sales and marketing focus accordingly. UX/UI has become a core skillset for would-be marketers, and a slowly-building demand for marketing professionals with specific investor relations exposure underlines the growing positive sentiment in the market.

MARKETING & DIGITAL

Data source: Getting Media Right report by Kantar published in October 2018

Marketers in APAC (ten per cent) are the least assured in the world when it comes to

integrating data and extracting insight.

“Singapore’s rapidly expanding outsourced food delivery industry is creating demand for content and insight specialists.”


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MARKETING & DIGITAL


MARKETING

- TRADITIONAL

Marketing

Director

Marketing

Manager

Marketing

Executive

Mainland China 800 - 1,800 500 - 900 100 - 250

Hong Kong 900 - 1,600 450 - 900 180 - 360

Japan 12 - 20 8 - 12 4 - 7

Malaysia 300 - 540 96 - 180 36 - 72

Singapore 140 - 250 90 - 140 39 - 65

MARKETING

- BRANDING

Direct Marketing

Manager

Channel

Manager

Global Brand

Manager

Product/Brand

Manager

Mainland China 450 - 750 450 - 750 700 - 1,000 250 - 550

Hong Kong 480 - 780 550 - 700 900 - 1,500 480 - 870

Japan 8 - 12 6 - 10 10 - 15 6 - 12

Malaysia 96 - 180 120 - 190 150 - 220 84 - 150

Singapore 70 - 150 70 - 150 80 - 150 70 - 120

MARKETING

- ADVERTISING

Group Account

Director

Account

Director

Account

Manager

Account

Executive Media Planner

Mainland China 500 - 800 400 - 800 280 - 500 130 - 250 N/A

Hong Kong 700 - 1,000 450 - 700 360 - 550 180 - 360 300 - 540

Japan 12 - 18 10 - 15 8 - 10 4 - 7 4 - 7

Malaysia 190 - 300 120 - 190 72 - 120 36 - 72 42 - 72

Singapore 120 - 220 100 - 160 60 - 100 40 - 60 60 - 90

MARKETING

- CREATIVE

Executive

Creative

Director

Creative

Director Art Director Copywriter

Mainland China 1,000 - 2,200 700 - 1,100 400 - 600 150 - 250

Hong Kong 1,000 - 1,500 540 - 720 480 - 600 240 - 600

Japan 10 - 20 7 - 12 5 - 9 5 - 8

Malaysia 230 - 360 170 - 230 170 - 230 48 - 96

Singapore 150 - 180 100 - 150 100 - 130 40 - 80

NOTES



MARKETING & DIGITAL

MARKETING

- COMMUNICATIONS

Marketing

Communications

Manager

Public Relations/

Communications

Manager

Internal

Communications

Manager

Corporate

Communications

Manager

Mainland China 300 - 600 300 - 700 250 - 500 300 - 700

Hong Kong 400 - 600 300 - 540 360 - 540 540 - 720

Japan 8 - 15 8 - 12 6 - 8 7 - 12

Malaysia 84 - 120 82 - 144 72 - 120 84 - 144

Singapore 70 - 150 80 - 160 80 - 160 80 - 160

MARKETING

- MARKET RESEARCH

Market Research/

Consumer

Insights Director

Market Research/

Consumer

Insights Manager

Market Research/

Consumer

Insights Analyst

Mainland China 300 - 700 300 - 700 150 - 250

Hong Kong 500 - 1,200 400 - 800 300 - 600

Japan 8 - 12 6 - 10 4 - 6

Malaysia N/A 96 - 180 42 - 72

Singapore 120 - 180 80 - 120 60 - 90

DIGITAL

- MARKETING

Digital/Online

Marketing

Manager

Head of

eCommerce

Digital

Communication/

Content Manager

Mainland China 300 - 600 300 - 600 300 - 600

Hong Kong 480 - 840 400 - 840 480 - 780

Japan 8 - 15 8 - 15 6 - 10

Malaysia 96 - 150 120 - 170 72 - 100

Singapore 80 - 150 100 - 150 60 - 100

DIGITAL

- CUSTOMER EXPERIENCE

Department

Head Director Senior Manager Manager CRM Manager

Mainland China 800 - 1,200 500 - 1,000 480 - 800 300 - 600 300 - 600

Hong Kong 1,000 - 1,500 960 - 1,200 720 - 900 480 - 600 480 - 660

Japan 10 - 20 8 - 15 8 - 10 5 - 8 6 - 8

Malaysia 240 - 360 180 - 240 120 - 180 96 - 120 70 - 100

Singapore 200 - 250 150 - 180 N / A 80 - 120 60 - 100

DIGITAL

- TRANSFORMATION & ANALYSTICS

Head of Digital

Transformation

Web Analytics

Manager

Mainland China 1,000 - 2,000 540 - 660

Hong Kong 800 - 1,600 500 - 800

Japan 12 - 20 6 - 9

Malaysia 96 - 144 48 - 96

Singapore 150 - 220 90 - 150


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“There is signifi cant demand for offi ce professionals to fi ll roles in start-ups across Hong Kong.”

MAINLAND CHINA

GROWTH EXPECTED IN LIFE SCIENCES,

E-COMMERCE AND FINANCIAL SERVICES

The office professionals market in Mainland China has remained stable without following major market trend shifts. As workflows and other supporting functions have been streamlined by the use of technology, 2018 saw relative stagnation throughout the industry.

Looking ahead to 2019, the market outlook for office professionals is mixed, as there will be various influencing factors dictating the demand for talent. Industries such as life sciences, financial services, e-commerce and internet companies aregrowth areas requiring more officeprofessional talent.

STRATEGIC BUSINESS PARTNERING AN

EXPECTED SKILLSET FOR CANDIDATES

IN DOMESTIC COMPANIES

For domestic companies the demand for support staff will be greater regardless of industry, while MNCs covet mid to senior-level candidates. Office professionals moving to domestic companies can expect their employers to include strategic business partnering duties as part of their function, though at MNCs the outlook is less optimistic as there will be a less demand for talent due to muted business growth projections across foreign entities.

Despite this market outlook for 2019, candidates will still have a preference towards MNCs in comparison to domestic companies, especially SMEs. The predominant drivers behind this enduring preference are determined by MNCs’ stronger employer brand, established internal training systems and superlative career development paths.

COMPANY ORGANISATIONAL CULTURE A

KEY CONSIDERATION FOR CANDIDATES

RECEIVING MULTIPLE OFFERS

When competing for top talent in such a candidate driven market organisations need strong unique selling points in a bid win talent over. When considering offers, office professionals will take into account not only salary packages, but also the organisational culture of a company, its size, and how well they interact with hiring and line managers. These factors will play

a critical role in decision making processes, as candidates are likely to receive multiple offers during their job search. Given such demand, a reasonable increment in compensation and salary is expected for 2019, especially for experienced mid-level office professionals.

HONG KONG

JUNIOR CANDIDATES ARE IN A STRONG

POSITION TO RECEIVE RECORD SALARY

INCREASES

Hiring for office professionals is set to remain static across most industries and sectors. In 2018 starting salaries for fresh graduates increased by between 20 and 25 per cent, and with the number of junior candidates in the pool having decreased over recent years, average salaries offered to this demographic are higher than ever before.

WITH MORE RESPONSIBILITIES COMES

IMPROVED SALARIES FOR OFFICE

SUPPORT ROLES

In order to reduce overall hiring costs for office supporting roles, commercial and SME financial institutions have begun merging several mid to senior-level positions into one. As a result, companies are willing to offer higher salaries — from 20 to 25 per cent — to candidates that are multi-skilled and are able to handle more responsibilities. We predict this will continue into 2019, and office professionals in general should expect a salary increment of ten to 20 per cent when changing jobs.

CONTRACTING ON THE RISE, AND

MANDARIN-SPEAKING TALENT

REQUIRED

Due to an influx of Mainland China-based companies establishing new offices in Hong Kong in order to launch IPOs, recruitment needs have increased leading to a greater demand for Mandarin-speaking office professionals. A significant hiring trend for office professionals in start-up companies is also seen alongside the continuous development of financial technology.

On the contracting side we predict the market for temporary candidates will remain strong, particularly within investment banking, unless there is a sudden change in the economic situation.

JAPAN

THE NEED FOR BILINGUAL TALENT

TYPIFIES JAPAN’S OFFICE

PROFESSIONALS SECTOR

2018 was an active year in Japan’s office professional market, with a predominant focus on bilingualism and English ability. This was especially apparent in the pursuit of bilingual junior and senior assistants to whom companies offered competitive salary increases, with junior candidates with potential and a flexible mindset particularly coveted. This, as well as the trend for customer service roles across all levels and industries, is expected to continue into 2019.

Another area in which bilingualism is required is for career-driven senior executive assistants who are expected to combine English fluency with an ability to work as a business partner. Junior administrative assistants with good English and flexibility and bilingual customer service professionals are also sought after, with variable salary ranges to match market expectation.

COMPANIES FACING MANAGEMENT

CULTURAL CHANGE REQUIRE BILINGUAL

EXECUTIVE AND GROUP SECRETARIES

The demand for bilingual temporary office professional staff continues to increase in Tokyo, a trend that is particularly prevalent in organisations which have been acquired by or merged with overseas companies. Where management changes have been made from Japanese to foreign executives, executive secretary or group secretary candidates are in demand. Although interpretation or translation skills are not necessarily required for these roles, they can put candidates at a strong advantage.

OFFICE PROFESSIONALS


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ADMINISTRATION

Administration

Assistant

(6-12 mths)

Administration

Assistant

(12+ mths)

Project Admin

Assistant

(3+ yrs) Offi ce Manager

Project

Coordinator

Mainland China 50 - 80 60 - 150 120 - 200 250 - 500 65 - 120

Hong Kong 140 - 180 180 - 300 180 - 300 300 - 600 200 - 300

Japan 3.5 - 4.5 4 - 6 N/A 7 - 14 4 - 7

ADMIN/SPECIALISTS

Data Entry

Operator

Sales

Coordinator Records Offi cer

Medical

Secretary Translator

Mainland China N/A 75 - 180 N/A N/A N/A

Japan 3.5 - 5 4.5 - 7 N/A N/A 6 - 9

RECEPTION

Receptionist

(up to 12 mths)

Receptionist

(12+ mths)

Receptionist/

Admin Assistant

(12+ mths)

Mainland China 50 - 80 70 - 100 80 - 120

Hong Kong 130 - 180 180 - 380 180 - 380

Japan 4 - 5 4.5 - 6.5 4 - 6.5

Also requiring bilingual skills are direct contract or permanent headcount positions in general administration and general affairs, although this does not necessarily apply to executive assistants or group secretaries, whose roles do not involve extensive reading and writing. Salaries range from ¥3.5 million to ¥4 million for EA or admin roles, with occasional high-level roles paying up to ¥4.5 million.

Temporary customer service roles are not of such high demand, and requiring only Japanese skills, salaries are more muted at ¥3 million to ¥3.5 million. However, forproject-based or short to mid-termtemporary interpreter or translatorpositions, where exemplary English abilityis required, remuneration packages can bearound ¥4 million to ¥4.5 million, thoughthe number of these roles are limited.

PROJECT COORDINATOR ROLES

EXPANDING IN SCOPE AND BECOMING

PERMANENT

With MNCs entering into the automotive, vessel manufacture and aeronautic areas of the Japanese manufacturing industry, project coordinator positions have seen increased salary raises. Previously, this role may have been undertaken by temporary workers with interpretation and translation skills. However, duties have grown from serving as a bridge between Japan and foreign countries/regions within the industry to now encompass multiple operations such as assisting project managers, presentation preparation, general affairs and administration. As a result, the demand for permanent work is growing.


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SECRETARIAL

Secretary

(up to 12 mths)

Secretary

(12+ mths)

Team Secretary

(3+ yrs)

Personal

Assistant/

Team Assistant

Executive

Assistant

(for 1 person)

Mainland China 60 - 100 70 - 250 100 - 180 130 - 260 220 - 500

Hong Kong 192 - 264 200 - 360 200 - 420 360 - 600 400 - 660

Japan 3 - 5 5 - 7 5 - 8 5 - 8 7 - 14

LEGAL SUPPORT

Legal Secretary

(up to 2 yrs)

Legal Secretary

(2-4 yrs)

Legal Secretary

(4+ yrs)

Legal Personal

Assistant

Mainland China 65 - 104 96 - 156 140 - 300 200 - 350

Hong Kong 190 - 288 300 - 420 420 - 500 400 - 720

Japan 4 - 6 5 - 7 5.5 - 8 5 - 8.5

BANKING & FINANCE SUPPORT Secretary Senior Secretary Personal Assistant Executive Assistant

Mainland China 130 - 200 200 - 360 195 - 260 400 - 650

Hong Kong 192 - 250 360 - 480 240 - 600 360 - 600

Japan 5 - 7 6 - 10 7-11 7 - 14

PROPERTY & CONSTRUCTION

SUPPORT

Project

Secretary/

Administrator

Site Secretary/

Administrator

Facilities

Administrator

Contracts

Administrator

(Residential)

Client Liaison

(Residential)

Japan 4 - 6 4 - 6 4 - 6 N/A N/A

CUSTOMER SERVICE/CALL CENTER Operator

Operator

(2+ yrs)

Call Center

Manager

Call Center

Manager

(5+ yrs)

Call Center

Director

(Nationwide)

Japan 3.5 - 5 4 - 6.5 6 - 8 7 - 12 10 - 15

Customer

Service

Specialist

Customer

Service

Manager

Japan 4 - 6 10 - 15


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TALENT SHORTAGES ACROSS

E-COMMERCE, SOURCING AND

LOGISTICS PUTTING UPWARD PRESSURE

ON SALARIES

For the most part, Mainland China’s procurement and supply chain sector is a talent-short market, meaning candidates looking to advance their careers will find themselves in a good position to negotiate salary packages and benefits.

In the coming year, traditional MNCs will be actively looking for procurement and supply chain experts to help business units utilise internal resources in order to drive supply chain efficiency and customer satisfaction. Therefore, talent with organisation design and change management experience are likely to receive salary increments.

TALENT WITH GLOBAL DC MANAGEMENT

EXPERIENCE IN STRONG NEGOTIATION

POSITION

As the cost of raw materials is increasing, adept sourcing commodity managers with a knowledge of global supply base management are highly sought after. E-commence logistics experts are also in high demand, and candidates who are experienced in global DC management or cross-border logistics can enjoy a heightened bargaining power in 2019.

Furthermore, sales and operations (S&OP) talent and logistic managers are also attracting much attention, thereby commanding higher salaries, although traditional logistics specialists, particularly in freight forwarding and domestic transportation, will face stiff competition. While employers are not looking to increase salaries for talent in operational roles, they may do so with their sales managers or key account managers in the coming year.

HONG KONG

CONCERNS SURROUND COMMODITY

SOURCING AS DISQUIET OVER A

POTENTIAL TRADE WAR HEIGHTENS

The impact of changes to global trading practises and the increasing use of innovative technologies will result in adjustments to salary packages in Hong

Kong’s procurement and supply chain market in the coming year.

Procurement professionals specialising in commodity sourcing are likely to see changing market conditions driven by increasing raw material prices and the potential impact of the US-Mainland China trade war. Hires with unique global insights and a proven track of maximising material costs through identifying new strategic sourcing channels are highly coveted by employers, thereby commanding competitive salary packages.

INCREASES FOR IT AND PROPERTY

PROCUREMENT, BUT RETAIL TO SEE

STAGNATION

Indirect procurement professionals with deep category knowledge in high profile commodities such as IT and property will also experience considerable salary increases in regional and international companies. By contrast, challenging global trading conditions for many consumer brands and retail organisations will lead to salaries remaining stagnant in Hong Kong’s retail trading and sourcing industry.

An increased emphasis on the use of technology in Hong Kong’s supply chain sector will drive recruitment for demand planners, supply chain managers and order fulfilment specialists with experience in ERP system implementation, big data-related forecasting and S&OP automation. Consequently, the shortage of skilled candidates will drive salary increases in the short to medium term.

LOGISTICS PROFESSIONALS

RECOMMENDED TO GAIN ESPOSURE TO

NEW TECHNOLOGIES

Logistics professionals are likely to see salaries remain static as organisations drive cost saving initiatives and outsource their logistics functions to third-party providers. Many third-party logistics (3PL) organisations are also leveraging on new technologies such as ‘real-time’ logistics and inventory tracking systems. Logistics professionals with exposure to these systems are in a better position to negotiate salary packages.

JAPAN

MNCS BELIEVE LOCAL TALENT ARE

LACKING SKILLS, MEANING CANDIDATES

MUST UNDERTAKE UPSKILLING

Global technology is fast-moving in the world of procurement and supply chain management, but many local Japanese companies remain behind the trend. Despite the unprecedented degree of upgrades in automation, order fulfilment, and demand planning in the past year, the adoption rate by firms in Japan has been low. As such, candidates with a strong grasp of data manipulation in Microsoft Excel continue to be in demand.

TALENT SKILLED IN TECHNOLOGY AT

GREAT ADVANTAGE

Due to the pace of new technology adoption and integration of IoT with production and supply, global companies expect more than what the Japanese candidate market has to offer. Candidates wishing to take advantage of regional or global opportunities must consistently adapt, seeking continuous upskilling opportunities through self-learning and research. This presents great possibilities for supply chain management professionals who have overseen integrations involving the replacement of legacy systems with newer technologies.

“Talent in Mainland China with organisation design and change management experience are likely to receive salary increments.”

PROCUREMENT & SUPPLY CHAIN


LAST MILE LOGISTICS REMAINS A

PRIMARY CONCERN FOR RETAIL AND

3PL COMPANIES

Moreover, with soaring customer expectations around delivery times and an increasing number of supply channels, talent in retail and 3PL companies are kept on their toes. Last mile logistics is yet again on the rise as more companies provide increasingly cheaper options for non-peak delivery times, and distributors are therefore establishing a higher number of smaller facilities in closer proximity to consumers. Candidates with warehouse operations experience are well placed to make a shift from large-scale firms to more agile outfits which are more inclined to adopt the latest technologies in daily operations.

Companies are also investing in procurement consultancy professionals who have the capability to spot newer and more efficient cost-saving models in order to centralise their currently scattered cost centres.

MALAYSIA

2018 SAW YET MORE ASIA-EXPANSION

ORIENTATED MNCS ESTABLISH SUPPLY

CHAIN HUBS AND SHARED SERVICE

CENTRES IN MALAYSIA

Recruitment for the procurement and supply chain functions is consistently growing in Malaysia with expanding skillset requirements.

In the past year we have observed increasing market demands in the region driving businesses looking to gain an upper hand in their respective sectors to improve processes and optimise resources. As a result, MNCs have continued to establish manufacturing and supply chain hubs in Malaysia as a part of their regional growth plan in Asia.

LEAN, KAIZEN AND SIX SIGMA REMAIN

IMPORTANT CANDIDATE SKILLS

Employers continue to seek local candidates who are able to give insights into market demands. Experts with regional start-up or stabilisation experience generally have better leverage in the candidate market. Similar to trends seen in 2018, Six Sigma, Lean and Kaizen remain the focus in supply chain

management, as well as the growing transitions to SAP and cloud SAP.

There will continue to be a growing demand for shared services leading the procurement and supply chain function to evolve beyond traditional operations and into greater strategic planning and stakeholder management. The lower cost of labour and resources as well as the rich talent capabilities and language competencies in Malaysia (English, Bahasa, Mandarin, Hindi) will be the driving factors of this emerging market in the coming year.

CAREER GROWTH OPPORTUNITIES AS

REWARD FOR STRONG EMPLOYEE

PERFORMANCE

We expect moderate increases to remuneration packages in view of increasing recruitment standards in the procurement and supply chain industry. On the upside, high-performing employees and managers may look forward to new opportunities to hone updated skills and accelerate their career growth.

SINGAPORE

BUSINESS PICKED UP TOWARDS THE

END OF 2018 WITH START-UPS

FLOURISHING

Though the first half of 2018 was somewhat unremarkable for procurement across Singapore’s industries, May saw a greater degree of movement, leading to what would become a year of volatility in the market. Global financial services firms continue to outsource their procurement functions beyond Singapore, however the manufacturing sector has been picking up in the semi-conductor arena.

In the start-up scene, Singapore remains a primary hub for new companies looking to establish their regional procurement functions. As firms attempt to reduce manhours and outsource operational work, specialists in strategic sourcing and category management are increasingly important. Companies now focus on not only cost savings but also automating low-value spend, as well as managing the demand of internal stakeholders for value creation.

COMPANIES DRAMATICALLY

RESTRUCTURING SUPPLY CHAINS SEEK

TECH-SAVVY TALENT

Supply chain businesses are working hard to keep up with digital disruptions in the industry. To improve performance and innovation, companies are seeing value in radically restructuring their supply chains and operations. Candidates skilled in data analytics, blockchain technologies, machine learning and AI will therefore be in high demand.

Furthermore, the logistics industry is facing a challenge in the incorporation of technology in their core operations. Employers therefore require professionals who have a grasp of IT systems in logistics operations and possess a strong drive for innovation and creative thinking to move the industry forward.

“Amongst start-up fi rms, Singapore remains a primary hub for companies looking to establish their regional procurement functions.”

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Source: KPMG / Reboot Procurement released in 2018

79% of CPOs surveyed believe digital disruption

will not signifi cantly disrupt the organisational role of

procurement.


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PROCUREMENT & SUPPLY CHAINPROCUREMENT

SUPPLY CHAIN

Chief

Procurement

Offi cer/Head

of Procurement

Procurement

Manager

Category

Manager Buyer

Mainland China 700 - 1,500 400 - 600 250 - 450 150 - 250

Hong Kong 1,020 - 2,000 420 - 720 600 - 780 390 - 500

Japan 20 - 35 8 - 13 8 - 13 5 - 7

Malaysia 300 - 480 130 - 195 104 - 156 52 - 91

Singapore 180 - 300 80 - 120 80 - 110 39 - 65

Sourcing

Director

Sourcing

Manager

Purchasing

Director

Purchasing

Manager

Mainland China 700 - 1,500 300 - 600 700 - 1,500 400 - 600

Hong Kong 720 - 1,200 420 - 600 720 - 1,020 360 - 600

Japan 13 - 15 8 - 13 13 - 15 8 - 13

Malaysia 420 - 660 130 - 260 300 - 480 110 - 170

Singapore 200 - 250 80 - 120 156 - 220 70 - 90

WAREHOUSING/DISTRIBUTION

Operations

Manager

Distribution

Manager

Transport

Manager

Warehouse

Supervisor

Mainland China 300 - 600 400 - 500 360 - 420 180 - 300

Hong Kong 420 - 600 420 - 600 360 - 520 300 - 420

Japan 8 - 10 7 - 9 7 - 10 5 - 7

Malaysia 108 - 200 117 - 200 195 - 200 55 - 72

Singapore 65 - 91 75 - 115 65 - 95 52 - 60

Warehouse

Manager

Stock/

Inventory

Controller

Mainland China 240 - 400 144 - 200

Hong Kong 360 - 560 240 - 300

Japan 8 - 10 5 - 7

Malaysia 96 - 156 65 - 91

Singapore 70 - 85 24 - 43

THIRD PARTY LOGISTICS

Operations

Executive

Operations

Manager

Sea/Ocean

Freight

Manager

Air Freight

Manager

Key Account

Manager

Mainland China 80 - 200 200 - 400 180 - 400 180 - 400 144 - 400

Hong Kong 240 - 420 300 - 480 420 - 600 420 - 600 360 - 480

Japan 3.5 - 5 6.5 - 8 7 - 10 7 - 10 7 - 10

Malaysia 36 - 72 84 - 120 104 - 132 104 - 156 130 - 180

Singapore 33 - 48 65 - 90 60 - 90 60 - 90 65 - 130


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PROCUREMENT & SUPPLY CHAINSUPPLY CHAIN

TRANSPORT Operations Manager

Transport

Manager

Transport

Coordinator

Mainland China 250 - 400 200 - 350 80 - 130

Hong Kong 360 - 540 360 - 540 240 - 340

Japan 8 - 10 7 - 10 4.5 - 6

Malaysia 78 - 143 75 - 104 30 - 58

Singapore 65 - 90 65 - 90 40 - 55

Fleet

Manager

Fleet

Controller

Import/

Export Clerk

Trade

Compliance Manager

Mainland China 180 - 300 144 - 216 96 - 144 420 - 600

Hong Kong 360 - 480 420 - 540 180 - 240 480 - 720

Japan 5 - 7.5 4.5 - 6 3.5 - 6 8 - 11

Malaysia 109 - 260 26 - 52 26 - 52 195 - 312

Singapore 52 - 65 52 - 65 33 - 48 78 - 169

SUPPLY CHAIN Supply Chain Analyst

Supply Chain

Manager

Supply Chain

Planner Order Fulfi lment

Mainland China 130 - 240 240 - 600 130 - 240 110 - 190

Hong Kong 264 - 360 540 - 780 390 – 520 325 - 480

Japan 7 - 9 8 - 13 7 - 9 5.5 - 7

Malaysia 42 - 66 117 - 220 50 - 104 52 - 78

Singapore 40 - 60 80 - 130 40 - 60 36 - 50

Demand Planner Materials Manager Logistics Manager

Supply Chain

Director

Mainland China 130 - 190 240 - 500 200 - 600 700 - 1,500

Hong Kong 390 – 520 325 - 520 480 - 660 780 - 1400

Japan 7.5 - 9.5 7 - 10 8 - 12 14 - 18

Malaysia 52 - 114 120 - 195 104 - 216 240 - 480

Singapore 48 - 72 72 - 96 70 - 100 150 - 240


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MAINLAND CHINA

2019 IS EXPECTED TO MAINTAIN LAST

YEAR’S STAGGERING RISE OF THE

COMMERCIAL REAL ESTATE INDUSTRY

Although government regulations caused a decline in the Mainland China residential market during 2018, the commercial market showed a contrasting upward trend. After nearly two years of sluggish growth, Mainland China’s commercial real estate industry is now experiencing a towering recovery.

In particular, the performance of the property sector in the first-tier cities is outstanding, with the introduction of commercial land into the market. As a result, the development of new commercial assets is expected over the next three years. At the same time, foreign capital funds invested in a high volume of commercial assets during 2018, and the transformation of stock assets will remain a notable trend in 2019.

GOVERNMENT RENEWS SPENDING

PRACTICES, AND CANDIDATES WITH

INVESTMENT EXPERIENCE DESIRED

As the Chinese government reboots a series of major urban-infrastructure projects following a year-long hiatus, we foresee heightened activity in civil construction over the next three to five years. In the long run, Mainland China will see rapid development in urban renewal, shared office spaces and industrial parks.

In general, candidates with business development or investment experience continue to be the most sought after within Mainland China’s property market. Conversely, while candidates in the asset management sector — such as leasing and facility management — may not be in demand in the immediate future, improving market conditions may result in an increased need for such talent in the Chinese property market.

HONG KONG

SOUTHERN MAINLAND COMPANIES

SEEING HONG KONG AS A LOCATION OF

PROMISE IS RESULTING IN MULTIPLE

CANDIDATE OPPORTUNITIES

The private sector remains strong for both commercial and residential developments,

meaning large Hong Kong firms continue to thrive.

We are also seeing increasing competition from Mainland China as companies, particularly those from the southern region, have identified Hong Kong as an area for potential growth. As such, there continues to be a wealth of opportunities in Hong Kong’s property market for candidates with a proven track record of delivering high-value development projects across both public and private sectors.

CANDIDATES REQUIRED FOR HIGH-END

RESIDENTIAL PROJECTS

Consultancies and building material companies that specialise in residential design and architectural space will also flourish in 2019. Although there is a decrease in large-scale projects, a considerable volume of high-end residential projects is stimulating the industry, leading to a heightened demand for talent in this area.

JAPAN

GOVERNMENT PRESSURE TO DEVELOP

JAPAN’S TOURISM INDUSTRY IS

ATTRACTING FOREIGN INVESTORS TO

THE MARKET

The business process outsourcing (BPO) sector, which provides facility management (FM) and project management (PM) services, had the highest magnitude of growth in 2018. Several global companies have begun establishing themselves in Japan as a result of the continued expansion of the market.

Outsource and vendor-side FM and PM roles have been consistently outnumbering in-house roles. In addition, outsourced positions are generally seen at junior to mid-levels while in-house openings are typically at mid to senior levels. Salary ranges and job vacancies in the Japanese property market remained stable in the past year, and we expect this to continue in 2019.

REGULATORY CHANGE BOOSTING

FOREIGN INVESTMENT IN 2019 AND

BEYOND

The continued drive by the Japanese government to boost tourism in the country will also see a need for experience

in the hospitality sector. With the passing of the Integrated Resorts Act, overseas resorts and entertainment companies are beginning to eye Japan as a tremendous business opportunity. This development comes at a time of continued tourism promotion and the impending arrival of the 2020 Olympic Games, making Japan a desirable market for overseas investors. Notably, this growth is expanding beyond Tokyo, with areas such as Hokkaido and Okinawa particularly benefitting from the tourism push. As a result, a growing number of global hotel chains are partnering with Japanese construction firms, and we expect this trend to continue in 2019.

Furthermore, we also anticipate the continued need for bilingual candidates with experience in the office property market, especially in 2019. Candidates with strong analytical backgrounds in acquisitions and asset management are also highly sought after.

BILINGUAL TALENT CAN EXPECT TO

RECEIVE COMPETITIVE OFFERS

Fluency in Japanese and English also continues to be highly desirable for brokers and leasing professionals at mid to senior level, due to the need to liaise with overseas clients. Candidates who have an additional Japanese Real Estate License (takken) are also preferable.

To attract local, bilingual talent, companies are offering competitive compensation and incentive packages. As such, salaries will remain strong in Japan’s property market in 2019.

“Multiple opportunities for candidates in Hong Kong who have a proven track record of delivering high-value development projects.”

PROPERTY


PROPERTYSINGAPORE

MARKET-COOLING REGULATIONS

PROVED HINDRANCES TO DEVELOPERS

IN 2018 AND FUTURE JOB SECURITY IS

WEAK, THOUGH EN BLOC ACTIVITIES

PUT A POSITIVE SPIN ON SINGAPORE’S

PROPERTY INDUSTRY

The beginning of 2018 saw significant activity in the residential property market following the relaxation of market-tempering measures, leading to more successful en blocs compared to the previous two years.

However, July saw the implementation of a new set of cooling regulations that included raised Additional Buyer’s Stamp Duty (ABSD) rates and tightened Load-to-Value (LTV) limits on residential property purchases. These hindrances to developers were compounded further by restricting measures in the form of a five per cent ABSD levied when purchasing en bloc properties for redevelopment purposes.

2019 EN BLOC ACTIVITY TO IMPROVE

DEVELOPER FORTUNES

Previous predictions had it that the construction and property markets would bottom out by the end of 2018, presenting new opportunities for the market well into

the coming year. However, with the fresh set of cooling measures, this will perhaps be proven otherwise. The silver lining in Singapore’s property market is the confirmed slew of en bloc activities that tilt in the favour of developers.

From a recruitment perspective, we see a greater need for talent with regional experience as local companies look to expand their horizons.

There is also a shift in terms of where property management roles should be based, with some companies offshoring their operations to lower-cost countries/regions, potentially posing a challenge for roles in this area.

COMPANY UNDERCUTTING TACTICS

MAKE FOR LEAN EMPLOYEE PRACTICES

AND WEAK JOB SECURITY

We do not expect progress in the property management sector for 2019, as companies endeavour to make the best use of existing resources. With the stiff competition in the market of late, job security for employees in the property market may be weak as companies undercut one another when vying for facilities management contracts, resulting in leaner operations.

“Increasing need for candidates in Singapore to possess regional experience.”

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TY

Manager

(2-5 yrs)

Manager

(5-10 yrs)

Senior

Manager

Head of Property

Management

GM Property

Management

Mainland China 150 - 300 250 - 400 250 - 400 500 - 800 600 - 1,000

Hong Kong 240 - 360 360 - 480 450 - 900 900 - 1,200 1,250 - 1,850

Singapore 42 - 60 60 - 85 85 - 120 130 + 150 +

Centre Manager

- Retail

(5-10 yrs)

Centre Manager

- Retail

(10+ yrs)

Facilities Mgr

- Soft Services

(2-5 yrs)

Facilities Mgr

- Soft Services

(5-10 yrs)

Facilities Mgr

- Soft Services

(10+ yrs)

Mainland China 300 - 500 350 - 600 150 - 240 200 - 350 300 - 500

Hong Kong 440 - 670 670 + 240 - 360 360 - 600 600 - 960

Japan N/A N/A 5 - 7 7 - 10 10 +

Singapore 60 - 85 85 - 120 48 - 60 60 - 110 120 +

Facilities Director

(10+ yrs)

Leasing Manager

(2-5 yrs)

Leasing Manager

(5-10 yrs)

Senior Leasing

Manager

Leasing

Director

Mainland China 500 + 150 - 260 260 - 450 400 - 600 700 +

Hong Kong 960 + 250 - 400 400 - 650 650 - 800 800 - 1,300

Japan 15 + 4 - 8 8 - 14 14 - 18 18 +

Singapore 180 + 50 - 65 65 - 96 96 - 132 140 +

NOTES


Source: South China Morning Post, November 2018

Affl uent Chinese home buyers are investing more in Southeast

Asia due to western markets imposing capital curbs.


NOTES

PROPERTY


Asset Manager

(2-5 yrs)

Asset Manager

(5-10 yrs)

Senior Asset

Manager Asset Director

Mainland China 250 + 300 - 500 400 - 600 600 +

Hong Kong 270 - 415 450 - 750 750 - 1,200 1,200 - 2,500

Japan 6 - 9 8 - 12 10 - 15 15 +

Singapore 55 - 80 80 - 120 100 - 144 145 +

Property

Investment

Analyst

Property

Investment

Manager

Property

Investment

Associate

Property

Investment

Director

Mainland China 200 - 400 300 - 500 500 - 700 700 +

Hong Kong 340 - 550 550 - 900 900 - 1,250 1,250 +

Japan 6 - 10 8 - 13 13 + 18 +

Acquisitions

Surveyor/

Manager (2-5 yrs)

Acquisitions

Surveyor/

Manager (5-10 yrs)

Senior

Acquisitions

Surveyor/Manager

Acquisitions

Director

Mainland China 150 - 250 250 - 500 500 - 800 900 +

Hong Kong 320 - 420 420 - 800 800 - 1,000 1,000 +

Japan 6 - 10 10 - 15 15 - 18 18 +

Quantity Surveyor

- Unqualifi ed

(2-5 yrs)

Quantity Surveyor

- Qualifi ed

(5-10 yrs)

Senior Quantity

Surveyor

- Qualifi ed

Quantity Surveyor

- Qualifi ed

Director

Mainland China 120 - 200 150 - 350 400 - 600 700 +

Hong Kong 300 - 400 400 - 600 600 - 800 800 +

Japan 4 - 6 5 - 8 8 - 10 N/A

Singapore 48 - 72 72 - 105 95 + 135 +

PROPERTY - CLIENT SIDE

Project

Coordinator

Assistant

Project Manager Project Manager

Senior

Project Manager

Projects

Director

Mainland China 180 - 240 180 - 300 325 - 550 600 - 800 780 +

Hong Kong 240 - 360 360 - 480 480 - 720 720 - 1,200 1,200 +

Japan 3 - 5 5 - 7 7 - 11 11 - 14 14 +

Singapore 48 - 72 72 - 102 78 - 120 110 - 200 180 +


MAINLAND CHINA

DESPITE MODEST SALARY LEVELS

ACROSS MOST OF THE SECTOR,

E-COMMERCE IS PROVING TO BE AN

ENDURINGLY POPULAR AREA FOR

CANDIDATES

The e-commerce industry in Mainland China grew rapidly throughout 2018, and we saw huge demand for management-level candidates, a situation that is expected to continue in the coming year, also. Although salary-levels at mature e-commerce platforms remain moderate, itis still highly attractive for applicantsacross a number of industries as theprestige of being associated withcompanies in the sector is high.

With this combination of high demand and strong interest, highly-resourceful platforms are open to reviewing candidates from other sales-based sectors, as they have well-developed upskilling strategies in place.

FOR HIGHLY-SKILLED E-COMMERCE

CANDIDATES, SALARIES MAY DOUBLE

Also creating a number of job opportunities for sales professionals are the exciting start-up firms that are expected to initiate operations within Mainland China in 2019. In addition, foreign e-commerce platforms are also making their presence felt, creating further competition for sales talent.

Preferable for these organisations are experienced, well-resourced sales managers with skills that may be immediately applied. In order to attract these exemplary candidates, companies are willing to offer up to 100 per cent salary increments, sometimes even providing company shares in addition.

COMPANIES LOOK TO FUTURE TALENT

PIPELINES

As was seen in 2018, for employers from traditional industries such as FMCG and retail, losing candidates to e-commerce and new technology industries is an increasing threat. Good successor planning is a practical tactic with which to remedy this challenge, leading most companies to increase their annual budget for campus recruitment in order to build their own talent pipelines, though this is unlikely to

fix talent issues in the immediacy. To that end, companies are also increasing salary budgets in order to attract e-commerce candidates who bring with them innovative and creative sales solutions.

HONG KONG

WITH A PROGRESSIVE MARKET, SALES

WILL LIKELY MOVE AWAY FROM

TRADITIONAL AREAS TOWARDS

INNOVATION AND TECHNOLOGY

We expect to see a continued growth in the number of sales and business development roles within the technology space as companies require high-value individuals who can penetrate new markets as the technology evolves. 2019’s market will move fractionally away from traditional technologies and focus further on innovative areas such as artificial intelligence, fintech, mobile payments and quantum computing, and businesses will require candidates who can combine technical aptitude with strong network connections. Those with exceptional networks and a proven track record of success will be able to claim the highest salaries.

E-COMMERCE CONTINUES ITS RISING

IMPORTANCE OVER TRADITIONAL

RETAIL

This technological change continues into the retail space where we see a further shift away from traditional retail and into the e-commerce space. This has caused an increase in parallel markets such as payments and financial transactions where there has been a dramatic upswing in demand for sales professionals.

With Hong Kong’s close proximity to the mainland, it is perhaps unsurprising that Chinese companies are shifting their focus to the region, and we are currently seeing them do so in increasing numbers. This consistent trend is leading to a requirement for candidates with Mandarin language skills.

NETWORKING IS AS KEY AS AMBITION

The financial and professional services industry continues to grow as firms look for driven and ambitious candidates who can assess potential growth markets and develop success strategies. Meanwhile, the

legal, consulting and advertising specialisms continue to provide sales and business development professionals with the highest salaries across the market.

Consistency is the forecast within the industrial market, as the need for well-networked sales candidates within building services and materials continues. As ever, we are seeing industrial companies use Hong Kong as a regional base due to the accessibility of the manufacturing base and mass market of Mainland China.

JAPAN

JAPAN’S MARKETS ARE CONTINUING TO

IMPROVE, LEADING TO A REQUIREMENT

FOR ‘HUNTER’ SALES PROFESSIONALS

With the advertising technology and start-up specialisms so strong in 2018 we saw a high demand for country manager, and executive director-level roles through the year, and positivity is expected to be very much the theme for 2019.

Consequently, there is high demand in a number of areas positively impacting 2019’s hiring rate, with hunter sales and account management candidates particularly sought after. Although turnover here is higher than in other market sectors, candidates are more likely to receive offers of higher salaries and flexible working conditions.

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“Foreign e-commerce platforms are beginning to fi nd their feet in Mainland China creating opportunities for sales talent.”


A PRONOUNCED DIVERGENCE BETWEEN

DEMAND AND SKILLED, IN-TOUCH

TALENT

In the manufacturing and automotive space, the market is expected to remain stable with various mid to senior-level executive job roles available. Candidates with excellent networks, technical knowledge, strong hands-on sales backgrounds and industry experience are in high demand.

However, we have seen a stark disparity between the demand and offers in an aging market, where candidates lack necessary language skills and are out of touch with technological advancement. Most companies still use strict salary grids which limit flexibility and attractiveness when it comes to the hiring of qualified bilingual candidates. Unfortunately, one area of shortage in sales is in native Japanese-speaking talent.

SURGING TECHNOLOGIES AND A SWITCH

FROM PRODUCTS TO SOLUTIONS

Perhaps above all, it is the technology sector which is primed to be the outstanding area of performance for 2019. Software, hardware and telecommunications companies are investing heavily in Japan with RPA, AI, machine learning, cloud and CMR all being huge global topics.

As technologies become increasingly complex and business models transfer from packaged products to tailored solutions, candidates experienced in consultative sales will be at a distinct advantage. Working conditions and compensation packages remain attractive, enabling companies to secure the top talent in the industry.

MALAYSIA

AS DISRUPTIVE TECHNOLOGIES LEAD

THE WAY, OIL PRICE RISES CREATE

DEMAND FOR SENIOR-LEVEL POSITIONS

There was substantial excitement amongst network providers in 2018 following the roll out of 5G network tests; however, it has been the areas of AI and IoT that have been the primary topics of concern for Malaysia. As a number of companies are still new to these concepts they require

talent that has business development experience and can obtain and grow partnerships with other operators and influence businesses across the region to adopt this technology.

SOFTWARE AND SERVICES TO BE EVEN

MORE POPULAR IN 2019

With the rapid increase of cloud solutions in the market, the software and services industries are two of the most in-demand technology specialisms. As a result, we foresee a much greater demand in 2019 for sales candidates experienced in dealing with IT software such as CRM and ERP solutions.

OIL MNCS LEAD THE HUNT FOR SENIOR-

LEVEL SALES AND BUSINESS

DEVELOPMENT TALENT

The upward trend in crude oil prices has strengthened expectations for the awarding of more offshore projects in 2019, meaning that recruitment will pick up for senior-level service sales and business development positions, especially for MNC oil and gas consultancies.

The automotive industry made a comparatively strong comeback in 2018. As for the year ahead, it is presumed that there will be demand in the commercial vehicle segment, and in the passenger car sector there will be a steady requirement for sales talent coming from Asian car brands, with recruitment for sales positions picking up early in 2019.

SINGAPORE

RETAIL AND FMCG AREAS REMAIN

SLUGGISH, BUT THE EDUCATION SECTOR

IS BOOMING

The education sector was an area of outstanding growth throughout 2018, and we have observed a huge spike in demand for business development and account management professionals with experience in selling training and education products and services.

Sluggish overall growth in the retail and FMCG space persists, but there has been a marked increase in new consumer brands looking to penetrate the Singapore market, boding well for 2019. The migration from high street to online continues to alter the dynamic of sales

channel experience, and employers in this industry want to see experience of this kind on CVs.

ENTRY-LEVEL INSIDE SALES

PROFESSIONALS TO BENEFIT FROM A

YEAR OF SALARY IMPROVEMENT

The construction materials and industrial automation industries continue to be ones to watch in 2019 with increasing demand for sales talent over the past year. In addition, now is a great time to be an inside sales professional, particularly within the wider technology space. New companies coming into the market are beginning to have a positive impact on salaries at entry level.

Furthermore, high performing companies continue to recognise the importance of a multi-channel sales strategy, placing a premium on candidates at senior level with dynamic and varied sales experience.

“There is concern over the lack of technological skills and knowhow candidates have in Japan.”

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SALES

RETAIL

Merchandising

Manager

Visual Merchandising

Manager

Service Delivery

Manager

Mainland China 350 - 700 300 - 550 N/A

Hong Kong 480 - 750 420 - 720 380 - 540

Japan 6 - 9 5 - 8 6 - 9

Malaysia 84 - 150 60 - 84 110 - 140

Singapore 45 - 100 50 - 100 N/A

Category Manager Retail Manager

Mainland China 500 - 800 250 - 700

Hong Kong 400 - 600 720 - 840

Japan 8 - 10 6 - 10

Malaysia 110 - 150 72 - 96

Singapore 65 - 120 60 - 100

SALES Country Manager Regional Sales Director Sales Director

Mainland China 1,000 - 2,000 700 - 1,200 600 - 1,000

Hong Kong 1,050 - 2,000 1,000 - 1,600 840 - 1,200

Japan 20 - 50 15 - 30 15 - 25

Malaysia 350 - 550 300 - 530 250 - 480

Singapore 180 + 180 + 150 +

Sales Operations

Manager

Business Development

Manager

Mainland China 260 - 500 300 - 700

Hong Kong 480 - 720 480 - 720

Japan 8 - 15 8 - 15

Malaysia 144 - 180 72 - 144

Singapore 80 - 140 80 - 140

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RECOMMENDATIONSFOR EMPLOYERSA HAPPY WORKFORCE IS A BALANCING ACT42 per cent of employees reported that work-life balance is the key factor for why they stay with their employer, the number one reason for the third year running. However, only 13 per cent stated that their work-life balance was ‘very good’, down from 15 per cent in 2018. The primary flexible working practices that employees see as important when seeking a new role are home or mobile working (31 per cent) and flexitime, so if you want to ensure that your top talent remains your top talent, these could be the options to offer. And if you are one of the 30 per cent of companies that does not promote their flexible options to all staff, get the word out there.

ATTRACTING THE BEST TALENT IS A DEFINITE BONUSWhen it comes to future salary increment expectations there is a consensus between employers and employees that raises in the coming year will be above three per cent but less or equal to six per cent (25 per cent and 38 per cent respectively). Furthermore, at a combined 61 per cent, candidates are either satisfied or very satisfied with their packages, up from 43 per cent in 2018. However, as the most often cited reason for seeking new employment is improved salary and benefits, you should perhaps explore other avenues that would enable you to retain your staff and attract new talent. One tactic could be the improvement of bonus structures, as bonuses for all staff dropped last year when compared to 2018’s standings. In addition, with most bonuses becoming increasingly related to team performance over the past three years (34, 36 and 43 per cent respectively) consider making allowances for superlative talent.

RETAIN YOUR AMBITIOUS EMPLOYEES WITH COUNTER-OFFERSIn 2019’s vibrant economy, where opportunities are commonplace, there is a strong likelihood that your ambitious employees will be exploring their options. Talent retention should be foremost on your mind, with counter-offers often a necessary strategy. Only ten per cent of organisations stated that it was company policy to counter-offer staff when they resign, and though the majority sometimes do so (61 per cent) that means that more than one fifth do not. Of those that do make counter-offers, only 20 per cent of employees did not stay, which is more than half that of the previous year (43 per cent), proving the effectiveness of the approach. Of course, some organisations may not have the requisite budgets or have salary strict structures that may prohibit increased offers. In these instances, companies can instead offer new challenges and clearer career progression paths, both of which were high on employee lists for why they sought new roles.

IMPROVE, DEVELOP AND PROMOTE YOUR STAFF65 per cent of companies stated that the primary reason behind departmental or organisational restructuring was changing business needs, something that they do at great expense. Perhaps a more cost-efficient way is to ensure that the talent within the organisation is prepared for industry developments and ready to adapt to whatever the future may hold. Key to this is the training and upskilling of your employees, with 45 per cent of organisations stating that a lack of training and professional development was behind skills shortages. Be aware of what skills your organisation requires – whether it be problem solving (75 per cent), team working (70 per cent) or hard skills such as project management (55 per cent) – and improve your staff accordingly.

BROADEN THE SKILLS IN YOUR ORGANISATION BY DIVERSIFYING YOUR WORKFORCEWith workplace diversity a major talking point in international business, it is somewhat surprising to see that companies have reported only a single percentage point uptick in the implementation of formal diversity practices since last year, with only 52 per cent doing so. Furthermore, adherence to these practices has also dropped, as organisations stating that policies were well-adhered to fell from 22 to 15 per cent year-on-year. It is well reported that diversity in the workplace is a major instigator of creativity and innovation, the antithesis of hive-mind thinking. As companies increasingly look to employ a broad spectrum of abilities, particularly in hard skills areas, it is important that they utilise a wider range of thought and backgrounds.

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RECOMMENDATIONSFOR EMPLOYEESFUTURE-PROOF YOUR POSITION THROUGH UPSKILLINGSome 67 per cent of employees believe that their current skills will still be in demand five years from now, an impressive increase on last year (54 per cent). However, with 64 per cent of organisations claiming that skills shortages impacted their productivity, this may not, in fact, be the case. A large proportion of employees (37 per cent) spend just one to two hours a week enhancing their professional skills, with a further 21 per cent engaging in no training at all. The world is changing dramatically with technologies such as AI, digitalisation and cloud being implemented in most industries. Of course, these technologies are unlikely to take over from people in the workplace entirely, but employees will be expected to understand them and know how to interact with them. Take some extra time to learn how technologies may affect your industry, follow key leaders on social media, undertake accreditations, and make your employer aware of the skills you have obtained.

KNOW YOUR WORTH AND ASK FOR MOREOverall, employees are relatively happy with their salaries, with 56 per cent claiming that they are satisfied with their current compensation package. However, as only five per cent stated that they were very satisfied, there is room for improvement. With companies having seen increased activity levels this year (68 per cent) and expecting local economies to strengthen (36 per cent) you may believe that your position is worth more. Although only 36 per cent of employees asked for a raise last year, of those that asked almost two-thirds were successful. However, you should be prepared for rejection and have a back-up request to hand: perhaps additional annual leave, more flexible working conditions or improved career progression.

OPPORTUNITY IS OUT THERE, SEEK IT OUTPredictions for next year’s business activity are positive, with 69 per cent of organisations expecting improvements. As a result, permanent staff levels are set to increase in 2019 (49 per cent), which means that there are a number of positions opening up all around you. Keep an eye on your company’s internal jobs board, maintain positive contact with line managers within your organisation and keep your CV and accreditations up to date. Also, be ready to look outside of your own company by attending networking events, making new contacts and talking to recruitment specialists.

TEMPORARY POSITIONS COULD BRING YOU PERMANENT GROWTHIf you are unhappy in your role, and permanent hires in your sector fail to materialise, try looking to the temporary and contract sector. Since 2017 the trend for companies to hire temporary staff on a regular, ongoing basis in Asia has risen year-on-year (25, 29 and 33 per cent), which means there is a wealth of opportunities available for individuals who are willing to take a risk on temporary contracts. Not that there remains much of a risk, as 25 per cent of companies expect to increase temporary hires, and 62 per cent are planning to maintain current levels. And while risks are relatively few, the advantages are plenty as contracting enables you to gain wider industry experience, make new contacts and develop new skills.

PERFORMING FOR PROGRESSIONOne of the major considerations for employees seeking new roles is improved career progression (45 per cent). However, progression is a two-way street, and it is imperative that your performance levels deserve the progress you wish. With companies citing employee performance as the primary criterion for promotion (64 per cent) for three years in a row, it is evident that if you want that career path, you have to earn it. In order to do this, take advantage of the aforementioned upskilling opportunities to make sure that you are up to date with the requirements of your role. Also, be aware of your company needs and goals and see how you can go about fulfilling them. Furthermore, keep records of your achievements and ensure that line makers and key gatekeepers to progression are aware of them.

5,000+People placed in

permanent jobs each year

1,000+Temporary workers paid

each week

700+Employees in Asia

12Offi ces across the region

12Years of experience

Hays is the world’s leading professional and skilled recruitment company operating across 34 operating markets.

We continue to strengthen our position in Asia operating in six markets across the region from 12 offi ces. Our headcount continues to grow as we aim to help substantially more companies achieve their goals and support more people to fi nd the right jobs to transform their lives.

We are accredited with the world-leading ISO 9001:2015 certifi cation in all our operational markets in Asia including Mainland China, Hong Kong, Japan, Malaysia and Singapore.

Our extensive candidate database allows our consultants to search millions of candidates globally using elastic search technology to fi nd the best people in the fastest timeframe. In addition, our exciting collaboration with LinkedIn® provides real-time data on the active candidate market, behavioural trend analysis for future movers and an additional talent pool of millions of potential candidates. We are proud to be the number one most followed recruitment agency on LinkedIn with 2.5+ million followers.

Proud award winners

Hays Greater China certifi ed as one of the ‘Best Companies to Work® For in Greater China’ - 2018

Hays Hong Kong certifi ed as one of the ‘Best Companies to Work For® in Hong Kong’ - 2018

Hays Singapore certifi ed as a ‘Great Place to Work® in Singapore’ - 2018

Best Large Recruitment Company to Work For | Hays Japan - Recruitment International 2018

‘Best Accountancy & Finance Recruiter, Asia’ - CFO Innovation Awards 2012, 2013, 2014, 2015, 2016, 2017 and 2018

Liepin Extraordinary Hunter award | Hays Mainland China - 2016, 2017 and 2018

LinkedIn’s #1 Best Company Page - 2017 and 2018

‘Best International Recruitment Firm’ - HRM Asia Reader’s Choice Awards 2016 and 2017

‘RPO Provider of the Year’ in Japan - Recruitment International Asia Awards - 2015 and 2016

ABOUT HAYS IN ASIA

©Copyright Hays Specialist Recruitment Pte Ltd (Singapore) 2019. HAYS, the Corporate and Sector H devices, Recruiting experts worldwide, the HAYS Recruiting experts worldwide logo and Powering the World of Work are trade marks of Hays plc. The Corporate and Sector H devices are original designs protected by registration in many countries. All rights are reserved. The reproduction or transmission of all or part of this work, whether by photocopying or storing in any medium by electronic means or otherwise, without the written permission of the owner, is restricted. The commission of any unauthorised act in relation to the work may result in civil and/or criminal action.

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